BHEL Q1 beats estimates; profit up 12.9%

Bharat Heavy Electricals (BHEL), one of the largest engineering and manufacturing companies in India, announced quarterly results on Thursday which came above the market expectations. It reported a rise of 12.92% in net profit to Rs 9.20 billion for the quarter ended June 30, 2012 as compared to Rs 8.15 billion in the same period last year. The market was expecting profit to come at Rs 8.5 billion. Net sales for the quarter rose 16.89% to Rs 83.26 billion, while total income for the quarter rose 16.46% to Rs 88.05 billion, when compared with the prior year period. Net sales was also above the market expectations of Rs 77.83 billion. EBITDA margin came below estimates at 13.1% for the quarter as against expectations of 14.8%. The company`s outstanding order book at Rs 1,330 billion. Shares of the company gained Rs 1.95, or 0.9%, to trade at Rs 218.20. The total volume of shares traded was 594,538 at the BSE (12.34 p.m., Thursday). ref: http://www.myiris.com/newsCentre/storyShow.php?fileR=20120726123905199&dir=2012/07/26&secID=resultanal&code1=&code=