Does Balance Sheet shows current period profit & loss ?

yes it is included in the retained earning

You mean income statement B/s dose not show profit but if u mean real values for assets and liabilities ya

the change in owners equity

yes

yes as an item of owner`s equity

balance sheet does not show current year profit or loss...
instead it is shown in STATEMENT OF CHANGES IN EQUITY...
it is a seperate statement from balance sheet..
all the changes in the equity portion of balance sheet are reported in statement of changes in equity..
which includes dividends, profits, any transfers to other head of equity etc

balance sheet does not show profit but it reflects the cumulative figure of both profit & loss made by the company since from its incorpoartion, as reserve and surplus 

Balance sheet does not show net income.
Balance sheet shows the value of the business at a particular time

In balance sheet it is shown as part of retained earnings / accumulated profits. 

net profit is found by preparing profit and loss acount is then added with capital in the balancesheet.
there is no machanism in accounting by which a balancesheet derives profit.
but profit is carried over to balancesheet from p& l account added to capital at liability side of balancesheet

No, balance sheet not directly shown P and L. Its reflects under owners equity and retained earning head.