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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. Revenue during the quarter increased 12 percent year-on-year to Rs 6,664.5 crore.
Profit was estimated at Rs 96 crore on revenue of Rs 6,379 crore and EBITDA was expected at Rs 95 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18. EBITDA (earnings before interest, tax, depreciation and amortisation) stood at Rs 155 crore in Q2 against loss of Rs 437.9 crore in year-ago period with margin at 2.3 percent.
2:20 pm Interview: State-owned NTPC today said it is is well on course to meet its target of generating 10 GW solar energy as part of the government's aim of 100 GW by 2022 . "NTPC's commitment to add 10 GW solar energy out of government's overall commitment of 100 GW (Solar) is well on target for 2022," company's CMD Gurdeep Singh said in a statement here.
He also stressed on maintaining PSU's market leadership in the power sector through increase in renewable portfolio, while optimising the operations of existing fossil fuel fleet. He said that more than 90 per cent of NTPC's current coal-based capacity addition are low carbon footprint, high efficiency and SC (super critical)/USC (Ultra Super Critical) units.
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