BEL's net profit in March quarter increases y-o-y by 30%

21 May 2024 , 12:22 PM

Bharat Electronics Ltd (BEL) reported a 30% increase in consolidated net profit for the quarter ending March 31, 2024, reaching ₹1,797 Crore compared to ₹1,382 Crore in the same period the previous year.

Revenue from operations rose by 32%, amounting to ₹8,564 Crore, up from ₹6,479 Crore in the corresponding quarter of the previous fiscal year. The board proposed a final dividend of ₹0.80 per share for the financial year 2023-24, pending shareholder approval.

At the time of writing, the stock was trading at ₹275.70 which is a 6.53% gain than the previous close. The stock has gained 149% in the last one year, and 49.07% since the beginning of the year.

BEL achieved a turnover of ₹8,335.01 Crore in the March quarter, significantly higher than the ₹6,327.48 Crore turnover in the same period last year. For the full year, BEL recorded a turnover of ₹19,819.93 Crore, marking a 14.35% growth compared to the ₹17,333.37 Crore turnover in the previous year.

As of April 1, 2024, BEL’s order book stood at ₹75,934 Crore. BEL shares rose by 8.11%, closing at ₹257.20 each on BSE on May 18 during a special half-day trading session. The stock market was closed for the fifth voting phase of the Lok Sabha Election 2024 in Mumbai, part of a seven-phase election process affecting all six seats in the city.

In February, the defence ministry signed a ₹2,269-Crore agreement with BEL for the procurement of 11 Shakti electronic warfare systems and associated equipment. The Shakti systems will be installed on the frontline warships of the Indian Navy and are designed to accurately intercept electronic emissions and implement countermeasures in dense electromagnetic environments.

For feedback and suggestions, write to us at [e-mail] 

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/