BHEL's Q3 net profit at Rs 94 crore, stocks surge

Bharat Heavy Electricals (BHEL), a state-run firm, on Tuesday reported a standalone net profit of Rs 93.54 crore for the quarter ended December 31, 2016.

The company reported a net loss of Rs 1,084.96 crore during the same quarter of last fiscal.

Total income from operations of the state-run firm increased by 18.73 per cent to Rs 6,325.44 crore for the quarter ended December 31, 2016, as compared to Rs 5,327.24 crore reported for the corresponding period of 2015-16.

"The company has an outstanding order book position of Rs 98,400 crore as at the end of third quarter of 2016-17," the company pointed out in a regulatory filing to the BSE.

BHEL's Board of Directors declared and approved payment of 'interim dividend' at the rate of 40 per cent (Rs 0.80 per share) on the paid up share capital of the company for 2016-17.

"Interim dividend shall be paid/dispatched on February 22, 2017," the filing said.

The company's scrip at the BSE gained 5.49 per cent or Rs 7.90 per share to Rs 151.90 from its previous close of Rs 144 per equity share.

--IANS

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