BHEL, the State-run engineering major reported a stellar second quarter performance with a net profit of Rs 109 crores after a loss of Rs 180 crores year on year. The company is likely to remain profitable in the current fiscal, say the sources familiar with the developments in the company.
Management's topline guidance for the financial year 2017 of Rs 31,000 crores is achievable going by the earnings, says a senior Research Analyst (Power and Capital Goods).
Current Happenings in BHEL Share Price
Amongst the ongoing turmoil in the market regarding the latest measures taken by the government to curb black money, terrorism, BHEL share price saw a drop of more than 6 per cent in today’s trading session. The share price is currently trading at Rs 134.60 a piece on NSE. A total of 63,86,616 shares of the company have been traded on NSE amounting to a total of Rs 8,572.12 lacs.
Q2 Numbers at a Glance
Profit for Q2FY17 stood at Rs 109 crores against loss of Rs 180.8 crores in same period last fiscal. Revenue during the quarter increased 12 per cent year on year to Rs 6,664.5 crores. Profit was estimated at Rs 96 crores on revenue of Rs 6,379 crores and EBITDA was expected at Rs 95 crores for the quarter, according to average of estimates of analysts polled by the media.
EBITDA or earnings before interest, tax, depreciation and amortization stood at Rs 155 crores in the second quarter as compared to loss of Rs 437.9 crores in year-ago period with margin at 2.3 per cent. BHEL said outstanding order book position was at Rs 1.03 lac crores at the end of September 2016. Other income declined sharply by 47.6 per cent.
BHEL is one of the top 500 shares recommended by the research team of Dynamic Levels. Get the most important support and resistance levels of the share at BHEL share price history.
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