Operational income during the quarter under review however remained flat at Rs 98.29 billion against Rs 98.74 billion in the corresponding quarter of previous year. Total expenditure of the company declined 9.9% to Rs 92.01 billion from Rs 102.08 billion during the quarter.
However, the company's net profit and operational income were below an average analyst estimate of Rs 4.76 billion and Rs 110.11 billion, respectively.
“Prudent strategies of garnering higher market share in a shrunken and highly competitive business environment enabled BHEL to book orders worth Rs 409.32 billion in FY 2017-18. Significantly, this is a quantum jump of 74% over FY 2016-17. The orders comprise of Rs 333.42 billion in the Power segment and Rs75.90 billion in the industry and overseas segments combined. Significantly, BHEL has maintained its leadership position with 100% market share in the conventional thermal power equipment business. With this, BHEL has ended the year with a total order book of over Rs 1.18 trillion-highest in last five years,” the company said in a press release.
The board has recommended final dividend @ 51% (Rs 1.02 per share) on the paid up share capital of the company for FY 2017-18.
At 12:45 pm; the stock was trading 8% higher at Rs 85.30 on the BSE, as compared to 0.21% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than four-fold with a combined 31.25 million shares changed hands on the BSE and NSE so far.