BHEL rises after turnaround Q3 results

Bharat Heavy Electricals (BHEL) gained 1.68% to Rs 60.35 after the PSU company posted a standalone net profit of Rs 14.26 crore in Q3 FY22 as compared to a standalone net loss of Rs 230.99 crore registered in Q3 FY21.

Standalone net sales grew by 17% to Rs 4,918 crore in Q3 FY22 from Rs 4,203 crore posted in Q3 FY21. BHEL posted a profit before tax of Rs 20.24 crore in Q3 FY22 as against a pre tax loss of Rs 292.88 crore registered in the same quarter last year.

BHEL reported a positive EBITDA of Rs 180 crore in Q3 FY22 as against a negative EBITDA of Rs 94 crore in Q3 FY21. The PSU enterprise said it achieved break-even at profit before tax level for Q3 FY21-22, mainly contributed by focus on provision withdrawal and strict budgetary control on expenses.

BHEL's order book as of 31 December 2021 stood at Rs 107,058 crore. Out of the total orders, Rs 91,079 crore is from power sector, Rs 10,473 crore from industry and Rs 5,506 crore are export orders.

State-run BHEL is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 December 2021, the Government of India held 63.17% stake in the company.

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