BHEL Stock Dips After Q3 Earnings Miss, Varanasi Plant Closure Approved

• BHEL shares fell 3% after Q3 results, missing Bloomberg consensus estimates for revenue, EBITDA, and other income.
• Revenue grew 16.4% to ₹8,473 crore, while EBITDA surged 79% to ₹546 crore, with margins expanding to 6.4%.
• Net profit rose to ₹390 crore, significantly boosted by a more-than-doubled other income of ₹219 crore.
• BHEL's board approved the short closure of a planned ₹345 crore Railway Propulsion Systems plant in Varanasi.
• The company is evaluating the impact of new Labour Codes, to be accounted for once rules are notified and effective.

Why It Matters: BHEL's Q3 earnings missed estimates, leading to a stock dip and the cancellation of a new Varanasi plant.