BHEL Q1 beats forecast, net up 13% to Rs 921 cr

State-owned power equipment manufacturer Bharat Heavy Electrical  or BHEL reported a higher than expected 12.87% year-on-year jump in its net profit to Rs 921 crore. Sales also rose 14.51% to Rs 8,326.2,YoY.

Analysts on an average had expected net profit of Rs 850 crore and revenues of Rs 7,783 crore for  the quarter.

Earnings before interest, tax, depreciation and amortisation declined by 220 basis points YoY to 13.1% in the first quarter of FY13 while analysts had a forecast of 14.8%. EBITDA margins stood at 14.4%  against 15.6%.Other income was at Rs 366 crore, up 6.3%,YoY.

Order book during the quarter declined marginally to Rs 1.33 lakh crore as against Rs 1.35 lakh crore, quarter-on-quarter due to a tight economic environment

At 12:19 hours IST, the share bounced back from day's low, which rose 0.79% to Rs 217.85.