Bharat Dynamics' Turnover Declines 5.6%, Shares Dips

2 Apr 2024 , 01:24 PM

Bharat Dynamics’ shares declined nearly 1% at NSE opening on April 2, following a 5.6% decrease in turnover. At the time of writing, the stock was trading at ₹1,715.50, reflecting a 3.29% dip from the previous close.

In an exchange filing on April 1 after market hours, Bharat Dynamics reported a turnover of ₹2,350 Crore for FY 2023-24, marking a 5.6% decline from the previous fiscal’s ₹2,489.4 Crore.

The decline is attributed to the current geopolitical situation in Europe and the Middle East, affecting the company’s supply chain. Bharat Dynamics also disclosed a ₹19,468 Crore order book for FY 2023-24.

In Q3, the company reported a consolidated net profit of ₹135 Crore for the quarter ending December 2023, a 61% YoY increase from the previous fiscal’s ₹84 Crore.

Consolidated revenue from operations in Q3 grew by 30% YoY to ₹602 Crore. EBITDA for the reporting period increased by 32% to ₹119 Crore compared to ₹90 Crore in the previous fiscal.

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