BHEL declares a net profit of 10.3 crore in Q2 FY23, while power business sales grow steadily
- ByStartupStory | November 12, 2022
Bharat Heavy Electricals (BHEL), a leading government-owned power generation equipment manufacturer, declared a standalone net profit of Rs 10.29 crore for the quarter ending September 30, 2022 (Q2 FY23). The New Delhi-based company lost 67.49 crores in Q2 FY22 and 254.70 crores in Q1 FY23.
BHEL’s top-line performance remained consistent during the period under review. In Q2 FY23, its income from operations was roughly 5,202.57 crore, up from 5,112.19 crore in Q2 FY22. The revenue in the June 2022 quarter was approximately 4,672 crore.
Sales were around 4,927.95 crores in Q2 FY23, compared to 4,910.62 crores in Q2 FY22 and 4,449.49 crores in Q1 FY23.
In terms of segmentation, sales in the electricity industry were around 3,814.35 crores in Q2 FY23, compared to 3,586.26 crore in Q2 FY22. While industry business sales were 1,113.60 crore in the second quarter of the current fiscal, they were lower than the 1,324.36 crore recorded in the second quarter of FY22.
BHEL’s overall net loss for the sixth month period of FY23 has narrowed to 181.56 crore, compared to a loss of 512.89 crore in H1 of FY22. Meanwhile, BHEL’s revenue from operations in H1FY23 was roughly 9,874.57 crore, up from 8,013.51 crore in the previous year’s similar period.
In Q2 FY23, the company’s net profit to owners was roughly 12.10 crore, compared to losses of 45.98 crore in Q2 FY22 and 187.99 crore in Q1 FY23.
On the BSE, BHEL shares finished at 74.40, down 1.5%. The stock had reached an intraday high of 76.85 per share earlier on Friday, which was close to the 52-week high of 77.40 per share. It has a market capitalization of around Rs. 25,906.55 crore.
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