BHEL Q3 beats estimates, profit at Rs 93 cr; revenue rises 19%
State-run power equipment maker BHEL's third quarter earnings surpassed analysts' subdued expectations on all counts. Profit for the quarter stood at Rs 93.5 crore against loss of Rs 1,085 crore in year-ago quarter.
State-run power equipment maker BHEL 's third quarter earnings surpassed analysts' subdued expectations on all counts. Profit for the quarter stood at Rs 93.5 crore against loss of Rs 1,085 crore in year-ago quarter. Revenue during the quarter increased 18.7 percent to Rs 6,325.4 crore compared with Rs 5,327.2 crore in corresponding quarter of last fiscal. Earnings were far ahead of analysts' estimates. Profit was expected at Rs 31 crore on revenue of Rs 6,220 crore and operating profit was estimated at Rs 72 crore with margin at 3.5 percent for the quarter.
Technical levels for BHEL
Support at 145 and resistance at 155--160
Looks positive and could touch its resistance level of 155—160 , further upside rally will see above 160 else could touch its support level of 145.00
Looks weak if closes below 145.00
More will update soon!!
