Bharat Bijlee at new high

Bharat Bijlee has hit a new high today on the back of a very good performance for Q3FY18. The stock price rose over 12% to hit  a new high at Rs.1550.

The company reported a whopping 189% (YoY) jump in net profit at Rs.10 crore in Q3FY18. This was on a 35% rise in revenue at Rs.228 crore.

EBITDA was up 133% at Rs.14 crore.

There was no excise duty outgo this Q3 as we have transitioned to GST and that advantage is clearly seen in the numbers.

The company last week sold a small part of its factory land situated at Navi Mumbai to MIDC for Rs.47 crore. We will see this reflecting in the current Q4 numbers.