Bharat Bijlee jumps on turnaround
By
Research Desk
about 8 years ago
Bharat Bijlee rose 18% intra day to Rs.796 and it continues to remains strongly perched in the green, up some 17%. Volumes are up 3.25 times.
The sudden perk up on interest on the counter is on account of its turnaround performance for Q3Fy16. The company posted a net profit of Rs.9 crore v/s loss of Rs.4 crore in previous Q3 and profit of Rs.67 lakh in Q2. This was mainly on account of the 21% (YoY) jump in total revenue earned at Rs.205 crore. It also managed its operating costs well as it was kept at 95% of total revenue earned compared to it exceeding the revenue earlier