Bharat
Heavy Electricals (BHEL), an integrated power plant equipment
manufacturer, dropped on Friday afterreporting a fall of 17.5% in
its third quarter net profit due to lower sales and margins.
It has reported net profit to Rs 11.82 billion for the quarter ended Dec. 31, 2012 as compared to Rs 14.33 billion in the same period last year. Earnings performance of the company was below market estimates of Rs 13.71 billion.
Net sales of the company decreased by 4.74% to Rs 100.42 billion for the quarter ended Dec. 31, 2012 as compared to Rs 105.41 billion in the year ago period.
The company witnessed a drop of 413 bps in operating margins to 12.31% as compared with 16.44% for last year period.
Shares ofthe companyare trading at Rs
221.55, down Rs 6.15, or 2.70% at the Bombay Stock Exchange (BSE)
on Friday at 1:21 p.m.The scrip has touched an intra-day high of Rs
229.95 and low of Rs 217.35. The total volume of shares traded at
the BSE is 1,340,374.In the earlier session, the shares gained
2.36%, or Rs 5.25, at Rs 227.70. Currently, the stock is trading
down 32.53% from its 52-week high of Rs 328.35 and above 13.59%
over the 52-week low of Rs 195.05.
Post a Comment