BHEL shares jump nearly 6% post Q3 earnings
BHEL posted a net profit of Rs93.54 crore for the quarter ended on 31 December
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New Delhi: Shares of BHEL on Tuesday surged nearly 6%, adding Rs1,934 crore to its market valuation, after the company posted a net profit of Rs93.54 crore for the quarter ended on 31 December 2016. The stock gained 5.49% to settle at Rs151.90 on BSE. During the day, it surged 7.56% to Rs154.90.
On NSE, shares of the company rose by 5.58% to close at Rs152.10. Led by the jump in the stock price, the company’s market valuation soared by Rs1,934.04 crore to Rs37,179.04 crore. On the volume front, 58.84 lakh shares of the company were traded on BSE and over 4 crore shares changed hands at NSE during the day.
State-run engineering major BHEL on Tuesday posted a net profit of Rs93.54 crore for the quarter ended on 31 December 2016, on the back of higher income from power segment. The company had reported a net loss of Rs1,084.96 crore for the quarter ended 31 December 2015.
Total income increased to Rs6,461.22 crore for the quarter ended 31 December 2016, from Rs5,498.07 crore for the quarter ended 31 December 2015, BHEL said in a BSE filing.
BHEL also informed that its board has approved payment of interim dividend at the rate of 40% (Rs 0.80 per share) on the paid up share capital for 2016-17 and interim dividend shall be paid/dispatched on 22 February 2017.