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Written by 5:27 pm Manufacturing Processes

BHEL Q2 Results: Net profit at ₹96.67 Crore versus a loss in Q2FY24; share price rises up to 10%

Stock Market Today: Bharat Heavy Electricals Ltd (BHEL) reported net profit of 96.67 Crore at the standalone level during Q2FY25 (July-September 2024 quarter) versus a loss of 58.3 crore in the year ago quarter. BHEL also had reported a loss of 212 crore during the previous quarter.

BHEL share price thereby gained up to 8% in the intraday trades on Monday. The BHEL share price had opened at 217.15 on the BSE on Monday, only slightly higher than 216.95 on the previous day. BHEL share price post Q2 results announcement gained up to 10% to intraday highs of 238.60. Bhel Share price ended the day at 229.80 with 5.92% gains

Analyst had also been anticipating a loss during the quarter and thereby company reporting a net profit boosted Steet sentiments. Analysts at Prabhudas Lilladher in their results preview had anticipated net a net loss of 42 crore by BHEL during the September quarter.

The BHEL reported revenues from Operations during the September 2024 quarter at 6584. 10 crore grew 25% compared to 5125.29 in the year ago quarter. On a sequential basis also revenue from operations grew 20% compared to 5484.92 during the previous quarter.

Power segment lifts up the show

The power segment contributing three fourth to overall revenue, saw revenues grow 23.45% over 4073 crore in the year ago quarter. The Segment profit before Tax & Finance Cost at 337.27 grew multifold from 63.58 crore in the year ago quarter. In the June quarter power segment had reported a loss at the PBIT level. Thus the power segment lifted overall performance for BHEL.

The Industry segment revenues at 1555.82, contributing fourth to overall revenues also grew more than 48% compared to 1052.29 crore in the year ago quarter and 15% over 1356.82 crore in the June quarter. The segment PBIT at 216.42 crore also grew compared to a loss in the year ago quarter

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