State-run power equipment maker Bharat Heavy Electricals (BHEL) surpassed analysts' expectations on quarterly earnings front as it turned profitable in July-September quarter. Profit for the quarter stood at Rs 109 crore against loss of Rs 180.8 crore in same period last fiscal.
State-run power equipment maker BHEL is expected to report profit at Rs 96 crore in July-September quarter against loss of Rs 205 crore in year-ago period, according to analysts polled by CNBC-TV18.
BHEL shares surged 5.4 percent intraday Wednesday, in addition to 3.3 percent rally in previous session after CLSA upgraded the stock to buy from sell on improved EPS visibility on the legal victory by its client Tamil Nadu Generation and Distribution Corporation (TANGEDCO) in Ennore project.