For 4QFY18, Bharat Electronics Ltd’s sales decreased by 9.5% yoy to Rs3,608.5cr from Rs3,987.7cr in Q4FY17. Operating profit declined by 18.7% yoy to Rs796.2cr from Rs979.6cr in Q4FY17, while EBITDA margin declined from 24.6% in Q4FY17 to 22.1% in Q4FY18. Net profit during the quarter decreased by 29.4% yoy to Rs558.7cr vs. Rs791.7cr in Q4FY17 due to decline in operating profit and other income.
• Operating profit decrease is mainly due to increase in other expenses and lowe sales.
• Apart from declining operating profit, higher tax rate and decline in other income by 69% yoy to Rs27.9cr led to net profit decline.
• The order book as on April 01, 2018 stood at Rs40,000cr and the company received orders worth Rs10,000cr.
• The company has bought back 20.4 mn shares at a price of Rs182.50 per share under buyback scheme during March 2018.
Bharat Electronics Ltd ended at Rs. 118.50, down by 4.4 points or 3.58% from its previous closing of Rs. 122.90 on the BSE.
The scrip opened at Rs. 118.50 and touched a high and low of Rs. 118.50 and Rs. 118.50 respectively. A total of 34,992 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.
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