Bharat Heavy Electricals (500103) Q3 24/25 earnings summary

Executive summary

• Revenue from operations rose to Rs 7,277 crore in Q3 FY25, up from Rs 5,504 crore year-over-year.

• EBITDA increased to Rs 420 crore in Q3 FY25 from Rs 321 crore in Q3 FY24.

• Profit after tax reached Rs 125 crore in Q3 FY25, compared to Rs 46 crore in Q3 FY24.

• Board approved unaudited standalone and consolidated results for the quarter and nine months ended 31 December 2024.

• Major operational milestones achieved, including synchronization and full load achievements at key power projects.

Financial highlights

• Revenue for the nine months ended Q3 FY25 was Rs 19,346 crore, up from Rs 15,633 crore year-over-year.

• EBITDA for the nine-month period rose to Rs 754 crore from Rs 308 crore year-over-year.

• Profit before tax for the nine months improved to Rs 21 crore from a loss of Rs 411 crore year-over-year.

• Standalone net profit for Q3 FY25: ₹124.77 Cr vs ₹46.31 Cr in Q3 FY24 (restated).

• Consolidated Q3 FY25 revenue: ₹7,277.09 Cr; net profit: ₹134.70 Cr.

Outlook and guidance

• Forward-looking statements caution that actual results may differ due to market, regulatory, and economic factors.

• Company maintains strong liquidity with no outstanding commercial paper and top-tier credit ratings (CARE A1+, Ind A1+).