Other income rose 56.92% to Rs 174.61 crore.  PBIDT rose 95.60% to Rs 755.54 crore.  Provision for interest fell 3.06% to Rs 195.21 crore.   PBDT stood at Rs 560.33 crore compared to loss of Rs 547.19 crore.  Provision for depreciation rose 25.58% to Rs 75.46 crore.   Profit before tax grew 288.52% to Rs 484.87 crore.  Share of profit/loss was 13.60% lower at Rs 14.36 crore.  Provision for tax was expense of Rs 124.34 crore, compared to Rs 35.27 crore.  Effective tax rate was 24.91% compared to 24.94%. Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 253.17% to Rs 374.89 crore.  

Sales of Power segment has gone up 12.87% to Rs 5,675.64 crore (accounting for 75.56% of total sales).  Sales of Industry segment has gone up 18.02% to Rs 1,836.16 crore (accounting for 24.44% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 57.81% to Rs 873.80 crore.  PBIT of Power segment rose 76.05% to Rs 593.76 crore (accounting for 67.95% of total PBIT).  PBIT of Industry segment rose 29.40% to Rs 280.04 crore (accounting for 32.05% of total PBIT).  

PBIT margin of Power segment rose from 6.71% to 10.46%.  PBIT margin of Industry segment rose from 13.91% to 15.25%.  Overall PBIT margin rose from 8.41% to 11.63%.  

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Bharat Heavy Electricals has increased 7.70% to Rs 12998.71 crore.  Sales of Power segment has gone up 4.57% to Rs 9,574.50 crore (accounting for 73.66% of total sales).  Sales of Industry segment has gone up 17.56% to Rs 3,424.21 crore (accounting for 26.34% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 19.11% to Rs 670.64 crore.  PBIT of Power segment fell 70.43% to Rs 83.76 crore (accounting for 12.49% of total PBIT).  PBIT of Industry segment rose 109.78% to Rs 586.88 crore (accounting for 87.51% of total PBIT).  

PBIT margin of Power segment fell from 3.09% to 0.87%.  PBIT margin of Industry segment rose from 9.61% to 17.14%.  Overall PBIT margin rose from 4.67% to 5.16%.  

Operating profit margin has declined from 0.88% to 0.34%, leading to 58.55% decline in operating profit to Rs 43.79 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 69.36% to 71.68%.   Employee cost decreased from 23.64% to 21.37%.   Other expenses rose from 6.14% to 6.63%.   

Other income rose 66.13% to Rs 345.77 crore.  PBIDT rose 24.15% to Rs 389.56 crore.  Provision for interest rose 3.66% to Rs 376.42 crore.  Loan funds rose to Rs 10,969.31 crore as of 30 September 2025 from Rs 9,127.66 crore as of 30 September 2024.  Inventories rose to Rs 12,474.87 crore as of 30 September 2025 from Rs 8,161.30 crore as of 30 September 2024.  Sundry debtors were higher at Rs 6,969.18 crore as of 30 September 2025 compared to Rs 6,492.74 crore as of 30 September 2024.  Cash and bank balance rose to Rs 8,154.13 crore as of 30 September 2025 from Rs 5,104.76 crore as of 30 September 2024.  Investments rose to Rs 282.02 crore as of 30 September 2025 from Rs 266.55 crore as of 30 September 2024 .  

PBDT stood at Rs 13.14 crore compared to loss of Rs 49.34 crore.  Provision for depreciation rose 25.97% to Rs 149.98 crore.  Fixed assets increased to Rs 3,090.25 crore as of 30 September 2025 from Rs 2,791.91 crore as of 30 September 2024.  Intangible assets increased from Rs 89.47 crore to Rs 142.86 crore.  

Loss before tax has fallen 18.74% to Rs -136.84 crore.  Share of profit/loss was 9.08% lower at Rs 28.03 crore.  Provision for tax was credit of Rs 28.2 crore, compared to credit of Rs 32.32 crore.  Effective tax rate was 25.92% compared to 23.49%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 23.41% to Rs -80.61 crore.  

Equity capital stood at Rs 696.41 crore as of 30 September 2025 to Rs 696.41 crore as of 30 September 2024.  Per share face Value remained same at Rs 2.00.  

Promoters’ stake was 63.17% as of 30 September 2025 ,compared to 63.17% as of 30 September 2024 .  

Cash flow from operating activities decreased to negative Rs -1,181.95 crore for YTD ended September 2025 from negative Rs -969.87 crore for YTD ended September 2024.  Cash flow used in acquiring fixed assets during the YTD ended September 2025 stood at Rs 229.77 crore, compared to Rs 86.00 crore during the YTD ended September 2024.