BEL numbers exceed expectations

Bharat Electronics Ltd posted a very good set of numbers for Q3Fy17, exceeding all expectations, maybe because they were subdued expectations to begin with.

The company posted a turnaround -  a net profit of Rs.93 crore v/s loss of Rs.1085 crore in previous Q3 and this was on the back of a 19% (YoY) jump in revenue at Rs.6325 crore.

The main driver this Q3 was surprisingly the power segment which added 80% to total income and its topline rose 18%  with EBIT coming in at Rs.590 crore v/s loss of Rs.1164 crore. Industry vertical showed a 20% jump in revenue but showed a loss at EBIT level.

The outstanding order book though showed a dip below Rs.1 lakh crore to Rs.98,400 crore v/s Rs.1,09.201 crore in previous Q3.

The stock price, which closed yesterday at Rs.162, went on to an intra day high at Rs.1587.45. Its 52-week high is at Rs.1624.30.