BEL slides after Q4 PAT tumbles 16% YoY to Rs 1,142 cr

24 May 2022 , 09:20 AM

Net sales declined 8.2% to Rs 6,200.69 crore for the quarter ended 31 March 2022 from Rs 6,757.05 crore recorded in the corresponding period last year. Profit before tax tumbled 20.9% to Rs 1,526.56 crore in Q4 FY22 from Rs 1,930.53 crore in Q4 FY21. Total expenses shed 3.7% to Rs 4,757.09 crore in Q4 FY22 over Q4 FY21. Cost of material consumed rose 10.7% to Rs 3,394.76 crore and employee benefits expenses surged 20.82% to Rs 577.75 crore. On full year basis, the company recorded 13.7% increase in net profit to Rs 2,348.93 crore on a 8.9% rise in net sales to Rs 15,043.67 crore in FY22 over FY21. The order book position of the company as on 1 April 2022 stood at Rs 57,570 crore. Meanwhile, the board of directors of the company recommended a final dividend of Rs 1.50 per equity share, for the financial year ended 31 March 2022. 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