BHEL FY13 prov net profit beats estimates, stock up 2.6%

State-run Bharat Heavy Electricals Limited (BHEL) has beaten street estimates by posting provisional net profit of Rs 6,485 crore in the fiscal ending March 31, 2013. According to CNBC-TV18 estimates, profit after tax was seen down 15 percent at Rs 5,970 crore versus Rs 7,040 crore y-o-y. The company's net sales was seen down 4 percent at Rs 45,277 crore versus Rs 47,228 crore (y-o-y).

However, its net sales grew to Rs 50,015 crore in FY13. BHEL has also achieved order inflow guidance for FY13.

Addressing a press meet, BP Rao, chairman of the company said that FY13's order inflow jumped 47 percent from a year-ago period. Its order book as on March 31 stood at Rs 1.15 lakh crore. Power sector fetched Rs 22,553 crore adding 9,627 MW orders in FY13, he added.

At 12:56 hrs, the stock jumped 2.6 percent at Rs 182.30 on the BSE.