Shares of Bharat Heavy Electricals Ltd surged nearly 4% after the company reported a strong set of September-quarter results, with net profit, revenue and EBITDA beating CNBC-TV18 poll estimates.
BHEL stocks rose 3.88% to Rs 459.50 as of 2:02 pm on Wednesday.
BHEL reported a net profit of Rs 810 crore for Q2, up 120.1% from Rs 368 crore in the year-ago period, beating the poll estimate of Rs 654.4 crore.
Revenue rose 23.8% year-on-year to Rs 9,300 crore from Rs 7,511 crore, ahead of the poll estimate of Rs 9,236 crore.
EBITDA surged 76.6% year-on-year to Rs 1,026 crore from Rs 581 crore, compared with the poll estimate of Rs 881 crore. EBITDA margin improved to 11% from 7.7% a year ago, beating the poll estimate of 9.5%.