Bharat Electronics has reported results for the first quarter ended June 30, 2023 (Q1FY24). On a consolidated basis, the company has reported a 47.03% rise in net profit at Rs 538.60 crore for the quarter ended June 30, 2023, as compared to Rs 366.33 crore for the same quarter in the previous year. The company’s total income increased by 13.97% at Rs 3,673.17 crore for Q1FY24 as compared to Rs 3,222.82 crore for the corresponding quarter previous year.
Earlier, Bharat Electronics Limited (BEL) received new orders for defence and non-defence products worth Rs 2,191 crore. The order involves supply of Long-Range Guidance Kit with Warhead, Airborne V/UHF Jammer, Battlefield Surveillance Radar (Short Range) Upgrade, Missile Guidance Radar & Control Centre, Upgraded Radio Relay (F) with Data Modem Encryption Unit Mk II, Identify Friend or Foe Mk XII A, Anti-Submarine Warfare Shallow Water Craft (ASW SWC) Sonar, and Spares are among the items ordered.
These orders are in addition to the Rs 5,900 crore orders, which are already been received. With this, the company has received total orders of Rs 8,091 crore till now in the financial year 2023-24.
BEL is a multi-product, multi-technology, multi-unit conglomerate with various products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems.
Today, the stock opened at Rs 129.75, with a high and low of Rs 131.75 and Rs 127.35. The stock closed trading at Rs 130.05, up by 2.20%.
The stock has a 52-week high of Rs 131.75 and a 52-week low of Rs 87.00. The company has a ROCE of 30.1% and an ROE of 22.8% with a market capitalisation of Rs 95,064 crore.