BHEL shares surge nearly 6 pc on robust Mar quarter show

BHEL shares surged nearly 6 per cent today after the power equipment maker as it posted more than double standalone net profit for the March quarter of the last fiscal.

The scrip gained 5.56 per cent to close at Rs 83.60 on BSE. Intra-day, it jumped 9.59 per cent to Rs 86.80.

On NSE, shares of the company rose by 5.36 per cent to close at Rs 83.50.

The company's market valuation also moved up by Rs 1,615.9 crore to Rs 30,692.90 crore.

In terms of equity volume, 51.53 lakh shares of the company were traded on BSE and over 6 crore shares changed hands at NSE during the day.

State-owned BHEL posted more than doubling of its standalone net profit to Rs 457.12 crore for the March quarter of last fiscal on higher revenues.

Its net profit was Rs 215.55 crore for the January-March quarter of the preceding fiscal, 2016-17, BHEL said in a statement today.

The total income of the company was Rs 10,341.58 crore in the fourth quarter of 2017-18, slightly down from Rs 10,476.28 crore a year ago.