BHEL Q4 profit more than doubles to Rs 457 cr on strong operational income

New Delhi, May 29: State-run power equipment maker Bharat Heavy Electricals (BHEL) has reported more than double growth in March quarter profit at Rs 457.2 crore, driven by strong operational income.
Profit in the same quarter last fiscal stood at Rs 215.5 crore, the company said in its filing.
Revenue from operations during the quarter grew by 3.7 percent to Rs 10,144 crore compared to Rs 9,779.5 crore in corresponding period last year.
EBITDA (earnings before interest, tax, depreciation and amortisation) for the March quarter more than doubled to Rs 1,231.5 crore from Rs 568.7 crore while margin expanded 630 basis points to 12.1 percent compared to year-ago.
Tax cost for the quarter ended March 2018 increased 13-fold to Rs 682 crore but other expenses fell 32 percent to Rs 1,906 crore compared to same period last year.
Power business increased marginally by 2.5 percent year-on-year to Rs 8,308 crore but its EBIT (earnings before interest and tax) dropped 19.5 percent to Rs 909.4 crore in Q4FY18.