Shares of Bharat Bijlee Ltd. surged nearly 18% on Tuesday, October 27, reacting to the company’s second quarter results.
This is the stock’s biggest single day gain since May 21, 2024, when the stock had closed 20% higher.
The company’s earnings have risen across all key parameters in the quarter under review.
Net profit came in at ₹46 crore in the second quarter, up 64% from the previous year’s ₹28 crore.
The company’s revenue increased by 56% to ₹736 crore in the September quarter from ₹473 crore last year.
The power systems segment’s revenue increased to ₹440.1 crore from ₹259.76 crore last year, while the industrial systems segment’s revenue came in at ₹296 crore compared to ₹213.7 crore in the year-ago period.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 71% to ₹59 crore in the quarter under review compared to ₹34 crore in the prior fiscal.
Its margin expanded to 8% from 7.3% in the year-ago period.
Bharat Bijlee is involved in the manufacturing of electric motors and transformers. It also creates and designs speed drive systems for sugar industries, and also undertakes construction projects.
Shares of Bharat Bijlee gained 17.9% to hit an intraday high of ₹2,659.9 apiece on Tuesday. Shares are now trading 15.5% higher at ₹2,604.1. With this move, the stock has trimmed its year-to-date losses to just 2%. The stock is 22.9% away from its 52-week high of ₹3,270 per share.
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