Bharat Bijlee jumped 5.52% to Rs 2622.85 after the company's net profit surged 45.22% to Rs 23.09 crore on 20.11% rise in revenue from operations to Rs 388.03 crore in Q3 FY23 over Q3 FY22.
Profit before tax stood at Rs 30.57 crore in Q3 FY23, rising 44.13% from Rs 21.21 crore posted in the corresponding quarter previous year.Total expenses jumped 18.99% to Rs 364.55 crore in quarter ended 31 December 2022. Cost of materials consumed was at Rs 278.70 crore (up 30.23% YoY) and employee benefit expenses stood at Rs 41.44 crore (up 28.98% YoY) during the quarter.
The company's revenue from power systems stood at Rs 199.03 crore (up 33.90% YoY) and revenue from industrial systems was at Rs 189 crore (up 8.37% YoY) in Q3 FY23.
Mumbai-based Bharat Bijlee has two primary business segments: power systems that comprise transformers and projects divisions, and industrial systems segment comprising electric motors, drives & industrial automation and elevator systems divisions.
The company caters to industries like power, refineries, steel, cement, railways, machinery, construction and textiles.
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