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Navratna defence public sector undertaking (PSU) Bharat Electronics Limited (BEL) has recorded more than 19 per cent profit after tax (PAT) for fourth quarter of FY23, increasing to ₹1,365.36 crore from ₹1,141.81 crore witnessed in the same period previous year.
The PAT, however, during the entire FY23 stood at ₹3,006.67 crore with a growth of 28 per cent over the PAT of ₹ 2,348.93 crore recorded during 2022, the defence PSU’s statement read.
similarly, Profit Before Tax (PBT) during the Q4FY23 jumped to ₹1,781.49 crore which is more than 16 per cent higher than ₹1,526.56 crore showed in the corresponding period of FY22.
For the full year of FY23, PBT stood at ₹3,984.88 crore, with a growth of 26.19 per cent over the PBT of ₹3,157.80 crore marked during the previous year.
PSUs role
The PSUs along with domestic private industry have been significantly contributing to exponential grown of the defence sector since the government’s push for aatmanirbharta to reduce imports of hardware and software for the tri-services of Army, Air Force and Navy.
Another navratna defence PSU Hindustan Aeronautics Limited (HAL) recently posted encouraging fiscal health at the stock exchange. For the entire year of FY23, the HAL pocketed a profit of ₹5,811 crore which was more than about ₹700 crore compared with FY22 when the figure stood at ₹5,087 crore.
The order book position of the company as on April 1, 2023, stood at ₹60,690 crore, said BEL in a media release on consolidated financial year results for quarter year that ended on March 31, 2023.
BEL, similarly, achieved a turnover of ₹17,333.37 crore registering a growth of 15.22 per cent during FY23 over ₹15,043.67 crore during the previous year. As of Q4FY23, the PSU’s turnover was ₹6,327.48 crore against ₹6,200.69 crore listed in the same period of the FY22.
During Q4FY23, BEL posted a turnover of ₹6,327.48 crore against ₹6,200.69 crore in the corresponding period of FY22, capping a growth of just two per cent.
The Board of Directors recommended a final dividend of ₹0.60 per equity share (having a face value of ₹1 each) on the enhanced share capital of the company post bonus issued in September 22 and the same is subject to the approval by the shareholders in the ensuing annual general meeting of the company, said the BEL in its statement.
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