Bharat Electronics Q2FY24 results: Total income increases 3.55% while net profit soars 32.9% YoY.

30 Oct 2023 , 11:41 AM

Beating the market estimates, Government of India (GoI)-owned Bharat Electronics Ltd published its second-quarter results on Saturday. At the board meeting, the aerospace and defense electronics company’s board of directors reviewed and approved the unaudited financial results of the business. 

While BEL’s net profit in Q2FY23 was Rs 611.05 crore, the aerospace and defence electronics company’s net profit in the April to June 2023 quarter was Rs 530.84 crore. Therefore, the GoI-backed company has registered a rise in net profit both sequentially and in YoY terms. The state-owned defence company reported a standalone net profit of Rs 812.34 crore during Q2FY24, logging a year-on-year (YoY) jump of 32.9% against the net profit of the company in the corresponding period in the previous financial year.

With Rs 3,993.3 crore in revenue for the second quarter of the year, BEL reported a 1.2% gain over the previous year.  With Rs 1,004.3 crore, its EBITDA was 17.4% more than ₹856 crore in the previous year.

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