In past two weeks, Bharat Bijlee has outperformed the market by zooming after its power systems business reported a robust performance for the quarter ended September 2021 (Q2FY22).
The company’s profit after tax (PAT) more-than-doubled to Rs 14.39 crore in Q2FY22, as compared to Rs 6.05 crore in Q2FY21, on back of healthy operational income. Revenue from operations during the quarter grew 109 per cent to Rs 305 crore from Rs 146 crore in a year ago quarter.
In Q2FY22, power systems segment posted profit before finance costs & tax (PBIT) of Rs 7.16 crore against loss of Rs 2.10 crore in Q2FY21. Industrial systems segment PBIT grew 29.5 per cent year on year (YoY) to Rs 22.92 crore from Rs 17.70 crore in previous year quarter.
Meanwhile, for first half (April-September) of the current financial year 2021-22 (FY22), the company posted PAT of Rs 28.07 crore against loss of Rs 2.69 crore during the same period of FY21. Revenue from operations jumped 171 per cent YoY at Rs 593 crore from Rs 219 crore during the period.
The COVID-19 outbreak during early 2020 and the consequent lockdown imposed across India had an adverse effect on capital spending, and hence on both orders and revenue realization. As a result, the company’s profitability also came under pressure in FY21.
Amidst adversities, the management in FY21 annual report said that the company continues to focus on growth; through expansion of our manufacturing range and capacities, related diversifications, and forays into new markets through strategic partnerships.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in