Bharat Heavy Electricals Ltd (BHEL) reported a robust performance for the July–September quarter, comfortably beating Street estimates on profitability and margins.
The state-run engineering major posted a net profit of ₹368 crore, significantly above the CNBC-TV18 poll estimate of ₹221.2 crore and up sharply from ₹96.7 crore in the same period last year.
Revenue rose 14.1% year-on-year to ₹7,511 crore, though it came in slightly below the CNBC-TV18 poll estimate of ₹7,939 crore.
EBITDA more than doubled to ₹580.8 crore from ₹275 crore a year earlier, far exceeding expectations of ₹223 crore.
Operating margin expanded to 7.7%, beating both the 4.2% recorded last year and the 2.8% projected by the Street.
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The strong margin improvement was attributed to better execution, favourable cost dynamics, and improved performance across the power and industrial segments.
Ahead of the earnings announcement, shares of BHEL closed 3.7% higher at ₹246.13 on the NSE, after hitting a fresh intraday high during the session.
