BHEL Q1 Results: Net Loss Widens To Rs 344 Cr, Revenue Surges 8.30%

Bharat Heavy Electricals Limited (BHEL)'s net loss widened for the quarter ending June 30, 2023. The Government-backed power generation equipment manufacturer witnessed a volatile tone on stock exchanges ahead of its quarterly earnings on Friday.

The company earned a consolidated net loss of Rs 343.89 crore in the quarter ending June 30, 2023 (Q1FY24) period, as against a net loss of Rs 187.99 crore recorded in the same quarter a year ago. During Q4FY23, the company recorded a net profit of Rs 611 crore.

The company's total income from operations stood at Rs 4,818.37 crore in Q1FY24, on a standalone basis compared to Rs 4,449.49 crore in the year-ago quarter -- registering a growth of 8.30% YoY. In the preceding quarter, BHEL posted a profit of Rs 598.11 crore and a top-line of Rs 8,226.99 crore.

EBITDA for the firm grew by 14.9% to Rs 1,037.4 crore from Rs 902.7 crore in the year-ago quarter while the EBITDA margin was 20.7% in Q1FY24 as opposed to 19.3% in the same period last year.

The company's Q1 revenue is in-line/lower/above than Kotak Institutional Equities' prediction of ~6% yoy improvement driven by the industrial segment.

At the time of writing, BHEL's stock price traded at Rs 100.70, flat compared to the previous closing of Rs 100.75 on BSE. The stock ranged from Rs 101.90 to Rs 100.35 per share respectively.

Currently, BHEL's market cap is over Rs 35,151 crore.