Bharat Heavy Electricals shares jumped nearly 10% after Q2 results came out on Monday afternoon.

What Happened: The PSU company reported a net profit of ₹106.15 crore compared to net loss of ₹63.01 crore in the previous year’s September quarter. The company’s revenue jumped 28.46% to ₹6584.1 crore. The revenue figure beat the brokerages expectations which put the highest estimate at ₹6242.6 crore. The brokerages predicted revenue growth for the company due to healthy execution in both power and industry segments

In September, the company won a ₹6,100 crore order from NTPC to engineer, procure, and construct the 1×800 megawatt Sipat Supercritical Thermal Power Project Stage -III, located in Bilaspur, Chhattisgarh.

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BHEL in August had also secured more than ₹11,000 crore worth orders from Adani Power its subsidiary, Mahan Energen to supply equipment and supervision of erection and commissioning for three power projects, each of 2×800 MW rating at Kawai (Phase-II) Rajasthan & Kawai (Phase-III) Rajasthan and at Mahan (Phase-III), Madhya Pradesh.

Price Action: Shares of BHEL gained 9.98% to ₹238.50 on Monday afternoon.

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