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Bharat Bijlee scales fresh 13-year high; zooms 45% in 2-weeks post Q2 nos

In Q2FY22, power systems segment posted PBIT of Rs 7.16 crore against loss of Rs 2.10 crore in Q2FY21.

Buzzing stocks | Bharat Bijlee | Q2 results

SI Reporter  |  Mumbai 

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Shares of hit an over 13-year high at Rs 1,950, on rallying 7 per cent on the BSE in Thursday’s intra-day trade in an otherwise weak market. The stock was trading at its highest level since June 2008. In comparison, the S&P BSE Sensex was down 0.71 per cent at 59,922 points at 10:11 am.

In past two weeks, has outperformed the market by zooming after its power systems business reported a robust performance for the quarter ended September 2021 (Q2FY22).

The company’s profit after tax (PAT) more-than-doubled to Rs 14.39 crore in Q2FY22, as compared to Rs 6.05 crore in Q2FY21, on back of healthy operational income. Revenue from operations during the quarter grew 109 per cent to Rs 305 crore from Rs 146 crore in a year ago quarter.

In Q2FY22, power systems segment posted profit before finance costs & tax (PBIT) of Rs 7.16 crore against loss of Rs 2.10 crore in Q2FY21. Industrial systems segment PBIT grew 29.5 per cent year on year (YoY) to Rs 22.92 crore from Rs 17.70 crore in previous year quarter.

Meanwhile, for first half (April-September) of the current financial year 2021-22 (FY22), the company posted PAT of Rs 28.07 crore against loss of Rs 2.69 crore during the same period of FY21. Revenue from operations jumped 171 per cent YoY at Rs 593 crore from Rs 219 crore during the period.

The COVID-19 outbreak during early 2020 and the consequent lockdown imposed across India had an adverse effect on capital spending, and hence on both orders and revenue realization. As a result, the company’s profitability also came under pressure in FY21.

Amidst adversities, the management in FY21 annual report said that the company continues to focus on growth; through expansion of our manufacturing range and capacities, related diversifications, and forays into new through strategic partnerships.

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First Published: Thu, November 11 2021. 10:40 IST