Bharat Electronics shares rally 5% on solid Q1 results: key details

Bharat Electronics Ltd reported a 46.17 per cent on a year-on-year (YoY) basis in its net profit at Rs 776.14 crore for the quarter ended on June 30, 2024. The Navratna PSU reported a net profit of Rs 530.84 crore in the same quarter previous financial year.

The state-run defence player also saw a rise of 19.6 per cent on a yearly basis in revenue from operations at amounting to Rs 4,199 crore. The company's bottomline came in at Rs 3,511 crore in the year-ago quarter. The order book of the company, stood at Rs 76,705 crore, as of July 1, 2024, said the company in an exchange filing,

Shares of Bharat Electronics rose more than 5 per cent to Rs 325.65 during the trading session on Monday, commanding a total market capitalization of more than Rs 2.40 lakh crore. The scrip had settled at Rs 309.90 in the previous trading session on Friday.

Shares of Bharat Electronics have surged about 165 per cent from its 52-week lows at Rs 123.55, while the stock has gained over 75 per cent in the year 2024 so far. The stock is up 70 per cent in the last six months but its is up 5 per cent on the last one month.

Ebitda saw a 41 per cent YoY jump from the year-ago quarter to Rs 937 crore in Q1FY25, while Ebitda margin for the quarter increased over 330 basis points (bps) to 22.3 per cent from 19 per cent last year.

Bharat Electronics' board of directors at their meeting held on May 20, 2024 had recommended a final dividend of 80 per cent or Rs 0.80 per share for shares with a face value of Re 1 each) for the year 2023-24 in addition to two interim dividends amounting to 140 per cent, which are subject to approval by the shareholders in the ensuing annual general meeting.