State-run Bharat Heavy Electricals (BHEL) reported a 56.48% jump in its consolidated net profit to Rs 42.28 crore in the third quarter (Q3) of the financial year (FY) 2022-23 (FY23), as compared to Rs 27.02 crore reported in Q3 of the financial year 2021-22 (FY22). Revenue from operations rose marginally to Rs 4,939.49 crore in Q3 FY23 as compared to Rs 4,918.98 crore posted in the corresponding quarter last fiscal. Profit before tax in the third quarter stood at Rs 52.71 crore, recording a growth of 59.73% as against Rs 33 crore reported in Q3 FY22. The PSU company’s revenue from Power stood at Rs 3,992.12 crore (up 7.21% year-on-year (YoY)) while revenue from Industry was at Rs 947.37 crore (down 20.75% YoY) during the period under review. As of 31 December 2022, the Government of India held 63.17% stake in the company. Shares of Bharat Heavy Electricals declined 1.31% to settle at Rs 75.35 on the BSE.
BHEL’s Q3 FY23 Net Profit Jumps 56.48%
Bharat Heavy Electricals' (BHEL) consolidated net profit jumped 56.48% to Rs 42.28 crore in Q3 FY23 as against Rs 27.02 crore reported in Q3 FY22. Profit before tax in the third quarter stood at Rs 52.71 crore, recording a growth of 59.73% as against Rs 33 crore reported in Q3 FY22.
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