BHEL shares rally over 4% after Q3 profit zooms 124% YoY Rs 135 crore

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Bharat Heavy Electricals Ltd (BHEL) shares rallied 4.5% to an intraday high of Rs 196.10 on BSE today, Jan 29, 2025 after the state-owned company reported a 123.5% year-on-year (YoY) jump in net profit to Rs 134.7 crore for the quarter ended December 31, 2024, driven by higher revenues. In the same quarter last year, BHEL posted a net profit of Rs 60.3 crore.

Revenue from operations surged 32.2% YoY to Rs 7,277.1 crore, compared to Rs 5,503.8 crore in the year-ago period.


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At the operating level, EBITDA rose 40.6% YoY to Rs 304.3 crore, up from Rs 216.5 crore in Q3 FY24. The EBITDA margin stood at 4.2%, compared to 3.9% in the corresponding quarter of the previous fiscal.


"The financials for the nine months ended December 31, 2023, have been restated in line with the change in accounting policy by the company in FY 2023-24, with respect to factoring in the time value of money while calculating expected credit losses for contract assets. The impact or adjustment for Q3 was a reduction in other expenses by Rs 279.40 crore and an increase in tax expenses by Rs 70.32 crore," the company said.

BHEL Shares Target Price


According to Trendlyne data, the average target price for the stock is Rs 229, indicating an upside potential of 22% from current market prices. The consensus recommendation from 17 analysts is a 'Hold'.Also Read:Biggest stock market crash coming in February: Rich Dad Poor Dad's author Robert Kiyosaki

BHEL's Stock Performance


On Tuesday, BHEL shares closed at Rs 187.6, down 3.5% on the BSE, while the benchmark Sensex surged 0.7%. The stock has dropped 40% over the past six months but gained 155% over the last two years. The company's market capitalization stands at Rs 65,323 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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