BEL gains after stellar Q1 earnings

18 Jul 2022 , 09:35 AM

On a standalone basis, the companys net sales soared 95.8% to Rs 3,063.58 crore for the quarter ended 30 June 2022 compared with Rs 1,564.34 crore in the same quarter a year ago. Bharat electronics reported a profit before tax of Rs 578.10 crore in Q1 FY23 as against Rs 15.17 crore recorded in the corresponding period of the previous year. Total expenses surged 61.92% to Rs 2,694.42 crore in Q1 FY23 over Q1 FY22. Cost of material consumed jumped 79% to Rs 1,847.85 crore and employee benefits expenses increased 16.44% to Rs 576.40 crore. The order book position of the company as on 1 July 2022 stood at Rs 55,333 crore. State-run BEL is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures electronic products and systems for the Army, Navy and the Air Force. The Government of India held 51.14% stake in BEL as on 31 March 2022. Powered by Capital Market – Live News