Bharat Electronics’ net profit up y-o-y by 24.41% in FY23

22 May 2023 , 12:26 PM

Bharat Electronics Limited (BEL), a state-owned company, saw its net profit rise from Rs 2,400.22 crore in FY22 to Rs 2,986.24 crore in FY23, marking a year-on-year increase of 24.41%. In terms of quarterly performance, the company’s net profit grew from Rs 613.5 crore in Q3FY23 to Rs 1,382.01 crore in Q4FY23.

BEL witnessed a rise in its revenue from operations, climbing from Rs 15,368.18 crore in FY22 to Rs 17,734.44 crore in FY23, indicating a year-on-year growth of 15.39%. On a quarterly basis, the company’s revenue from operations surged from Rs 4,153.12 crore in Q3FY23 to Rs 6,479.12 crore in Q4FY23.

In a regulatory filing, BEL stated that during their meeting on Saturday, the Board of Directors made several decisions, including recommending a final dividend of Rs 0.60 per equity share (60% of the face value of Rs 1 each) for the fiscal year 2022-23.

BEL experienced a growth in its total expenses, with an increase from Rs 12,433.48 crore in FY22 to Rs 14,092.33 crore in FY23. In terms of quarterly performance, the company’s total expenses rose from Rs 3,405.52 crore in Q3FY23 to Rs 4,763.72 crore in Q4FY23.

At around 12.19 PM, Bharat Electronics was trading 2.71% higher at Rs 109.90, against the previous close of Rs 107 on NSE. The counter touched an intraday high and low of Rs 111.30 and Rs 107.60 respectively.

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