Bharat Heavy Electricals Ltd (NSE: BHEL) is a public sector company in India, primarily engaged in the design, engineering, manufacturing, construction, testing, commissioning, and servicing of a wide range of products, systems, and services for the power, transmission, transportation, renewable energy, oil & gas, and defence sectors. The company is headquartered in New Delhi, and it operates manufacturing facilities across India.
BHEL recently announced its Q3 FY23 earnings report. The company’s consolidated net profit increased by 56.48% year on year to ₹42.28 crore in Q3 FY23 from ₹27.02 crore in Q3 FY22. The profit before tax was ₹52.71 crore in Q3FY23, up 59.73% YoY from the ₹33 crore recorded in Q3 FY22. The consolidated EPS of BHEL reached ₹0.12 in Q3FY23 against ₹0.08 in the year-ago quarter.
BHEL’s revenue from operations increased slightly during the quarter that ended in December 2022, rising from Rs. 4918.98 Cr. to Rs. 4939.49 Cr. On a standalone basis, BHEL recorded revenue from operations of ₹4939.49 Cr compared to ₹4918.98 Cr in Q3FY22. The company recorded a net profit of ₹31.00 Cr in Q3FY23 compared to ₹14.26 Cr in Q3FY22, representing a growth of 117.39%. The EPS of BHEL was ₹0.09 in Q3FY23 against ₹0.04 in the year-ago quarter. BHEL’s revenue from the industry segment reached ₹947.37 crore in Q3FY23, down 20.75% YoY during the quarter under review from ₹1195.49 Cr in Q3FY22. The Maharatna PSU company’s revenue from the power segment reached ₹3,992.12 crore in Q3FY23, up 7.21% YoY from ₹3723.49 Cr in Q3FY22.
The company recorded net expenses of ₹5320.84 Cr in Q3FY23 compared to ₹5206.79 Cr in the year-ago quarter. BHEL’s order book as of December 31, 2022, was valued at ₹92,147 crore, which includes orders worth ₹8,040 crore received during the quarter. BHEL is focused on diversifying its business and expanding into new areas, including solar energy, transportation, and defense. The company is also investing in research and development to develop new technologies and products that can be used in various sectors.
Overall, BHEL’s Q3 FY23 earnings report showed an increase in consolidated net profit and revenue from power, while revenue from the industry segment decreased. The company’s order book remained strong, and it continues to focus on diversifying its business and expanding into new areas.
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