BHEL stock slides after PSU reports modest numbers in September quarter

BHEL Share Price: BHEL shares had a lacklustre opening in the morning session on Thursday (November 9) a day after the government PSU reported poor September-quarter results. The stock of BHEL was down by 1.36 per cent, or Rs 1.70, at 123.60 on BSE, at 9:27 am on Thursday.  

BHEL Q2 results

BHEL reported below-estimated second-quarter numbers on Wednesday as it suffered a standalone loss of Rs 233.4 crore in the September quarter against a profit of Rs 10 crore in the corresponding period last year.

Zee Business research had estimated a loss of Rs 70 crore.

The company's standalone revenue from operations in Q2 came 1.5 per cent lower at Rs 5,125.3 crore than Rs 5,203 crore year ago, much lower than analysts' estimates of Rs 5,820 crore.  

The company suffered an EBITDA loss of Rs 388 crore in the quarter under review as against an EBITDA loss of Rs 243.5 crore in the year-ago period.

Zee Business research had estimated an EBIDTA loss of Rs 30 crore for Q2 FY24.

The company's other standalone operating income for the September quarter stood at Rs 181 crore compared to Rs 275 crore in the corresponding period last fiscal.

The tax credit was Rs 198 crore in the current quarter against Rs 211.6 crore in the same quarter last year.

BHEL's segment-wise results 

In the segment-wise results, BHEL clocked a 3 per cent rise in its revenue from power at Rs 3,927.18 crore in the current quarter from Rs 3,814.35 crore in the year-ago period.

While in the industry segment, BHEL's revenue declined by 8.6 per cent to Rs 1,017.6 crore from Rs 1,113.6 crore a year ago.

BHEL's order book

BHEL's order book for the September quarter stood at Rs 1.14 lakh crore, out of which 72 per cent orders are from power, 25 per cent are from industry, while 4 per cent are from exports.