Bharat Electronics Q2 results: Profit rises 33% to Rs 812 crore, revenue up to Rs 3,993.3 cr

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Public Sector Undertaking Bharat Electronics on Saturday reported a net profit of Rs 812.3 crore in the second quarter of the current fiscal, which was 33 per cent more than last year's Rs 611 crore. The aerospace and defence electronics company's net profit in the April-June 2023 quarter was at Rs 530.84 crore. BEL reported a 1.2 per cent increase in its revenue in Q2 FY24 from last year at Rs 3,993.3 crore.  

In the first six months of this fiscal, the company's total income stood at Rs 7,816.33 crore, which is 7.17 per cent higher against its total income of Rs 7,293.36 crore in H-1FY23.

EBITDA of the company was at Rs 1,004.3 crore in the July to September 2023 quarter, which stood at Rs 1,012.7 crore in the April to June 2023 quarter whereas in Q2FY23, it stood at Rs 1,041.9 crore.

Shares of Bharat Electronics Ltd rose 2.48 per cent to close at RS 132.25 on the BSE. 

In September, BEL said that it has received orders worth Rs 3,000 crore, including an order worth Rs 2,118.57 crore from Cochin Shipyard.

BEL will supply next-generation missile vessels equipped with state-of-the-art technology worth Rs 2,118.57 crore to the Indian Navy.

The project will involve the active engagement of Indian electronics and related sectors, including micro, small, and medium enterprises (MSMEs), serving as sub-vendors for BEL. The equipment produced by BEL contributes to the 'Aatmanirbhar Bharat' initiative, the company said.

"Received an order of Rs 2,118.57 Crore from Cochin Shipyard Limited for the supply of various equipment consisting of sensors, weapon equipment, fire control systems, and communication equipment for six Next Generation Missile Vessels (NGMV), a class of anti-surface warfare corvettes for the Indian Navy," the aerospace and defence electronics manufacturer said in a release.

In the fiscal year 2023-24, BEL has accumulated orders totaling Rs 14,384 crore, including this one, the company said.