State-owned Bharat Electronics Limited (BEL) saw its net profits grow by 23.02 per cent to ₹530.84 crore in the first quarter of FY 2024. Net profits stood at ₹431.49 crore recorded in the corresponding period of the previous year.
The aerospace and defence electronics manufacturer’s revenues from operations was up 12.51 per cent to ₹3,446.69 crore compared to ₹3,063.58 crore in the same quarter last year.
EBITDA (Earnings Before interest, tax, depreciation, and Amortisation) grew by 29 per cent y-o-y to ₹664.4 crore. While the EBITDA margin increased from 16.5 percent to 18.9 percent in the June quarter from the same time last year.
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Profit Before Tax (PBT) during this quarter stood at ₹703.75 Crore, registering a growth of 21.73 per cent compared to the Profit Before Tax (PBT) of ₹578.10 Crore in June 2022.
As of July 1, the company had an order book worth ₹65,356 Crore.
According to a report by ICICI Securities Limited, Bharat Electronics’ current order flow is in line with management guidance of ₹200 billion in order inflow. “In FY24, we expect the order book at Q1 FY24-end to further improve compared to the record end-FY23 level,” it added.