Updated January 29th, 2024 at 15:20 IST
Bharat Electronics Q3 profit surges 40% to Rs 860 crore, EBITDA rises 24%
BEL's EBITDA rose by 24% to Rs 1,072.6 crore compared to Rs 863.4 crore in the year-ago quarter
BEL profit surges: Public Sector Undertaking (PSU) Bharat Electronics Ltd (BEL) has reported robust financial performance in its third-quarter results, with a notable 40 per cent increase in net profit, reaching Rs 859.6 crore compared to Rs 613 crore in the same period last year. The aerospace and defence electronics company's revenue remained stable at Rs 4,162.2 crore, reflecting a marginal 0.2 per cent growth from Rs 4,153 crore in the corresponding period of the previous fiscal year.
BEL's earnings before interest, tax, depreciation and amortisation (EBITDA), rose by 24 per cent to Rs 1,072.6 crore compared to Rs 863.4 crore in the year-ago quarter, resulting in an impressive margin of 26 per cent, up from 20.8 per cent year-on-year.
Bharat Electronics also declared an interim dividend of Rs 0.70 per equity share for the financial year 2023-24. The dividend will be payable to eligible shareholders holding shares as of the record date, which is set for February 10, 2024.
The company, known as a multi-bagger defence PSU, continues to strengthen its order book, with a substantial position of Rs 76,217 crore as of January 1, 2024. This robust order book underscores BEL's strong position in the aerospace and defence sectors, reflecting the confidence of its clients in the company's capabilities.
The positive Q3 results and the declaration of an interim dividend are indicative of Bharat Electronics' resilience and growth trajectory, reinforcing its commitment to delivering value to shareholders and sustaining its leadership in the defence electronics market.
The shares of Bharat Electronics ended 0.53 per cent higher at Rs 190.70 apiece on the NSE on Monday, January 29.
Published January 29th, 2024 at 15:20 IST
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