BHEL surges 9% as Q4 profit rises more than double

The stock rallied 9% to Rs 86.45 on the BSE in noon deal after the company reported net profit of Rs 4.57 billion in Q4FY18 against Rs 2.16 billion in previous year quarter.

Shares of Bharat Heavy Electricals Limited (BHEL) have moved higher by 9% to Rs 86.45 per share on the BSE in noon deal after the state-owned company reported a more than double standalone net profit of Rs 4.57 billion in March quarter (Q4FY18). It had a profit of Rs 2.16 billion in the same quarter last fiscal.

Operational income during the quarter under review however remained flat at Rs 98.29 billion against Rs 98.74 billion in the corresponding quarter of previous year. Total expenditure of the company declined 9.9% to Rs 92.01 billion from Rs 102.08 billion during the