Bharat Dynamics Q1 earnings: Net profit jumps six-fold, revenue at Rs 572 crore

Shares of Bharat Dynamics rose over 3% on Friday after the aero space and defence firm reported a six-fold rise in net profit in Q1. Net profit climbed to Rs 118.79 crore in the last quarter against a profit of Rs 18.34 crore. Revenue from operations climbed 131% to Rs 572.24 crore against Rs 247.92 crore in the year-ago period.

Shares of Bharat Dynamics climbed 3.45% to Rs 1420 on BSE. Market cap of the firm rose to Rs 51,172 crore. The defence stock opened higher at Rs 1383.20. Total 4.84 lakh shares of the firm changed hands amounting to a turnover of Rs 67.04 crore.

Bharat Dynamics stock is trading higher than the 10 day, 20-day, 30 day, 50-day, 100-day, 150 day and 200-day moving averages. The midcap stock has gained 150 per cent in three years.

At the operating level, EBITDA rose 283% to Rs 50 crore in Q1 of this fiscal.

Bharat Dynamics is engaged in the manufacturing of missiles and allied defence equipments. The company provides majority of its goods and services to the Indian Armed forces and government of India.