Navratna Defence PSU Bharat Electronics Limited reported a 30 per cent year-on-year (y-o-y) increase in consolidated net profit to ₹1,797 crore in Q4 FY24, compared to ₹1,382 crore in Q4 FY23. The revenue from operations grew by 32.18 per cent y-o-y to ₹8,564 crore in Q4 FY24 from ₹6,479 crore in Q4 2023.
Consolidated profits for FY24 rose by 33.45 per cent to ₹3,985 crore from ₹2,986 crore in the previous year. Revenue from operations for FY24 increased by 14.28 per cent to ₹20,268 crore from ₹17,734 crore in FY23.
BEL achieved a turnover of ₹8,335 crore in Q4 FY24 against ₹6,327 recorded in the corresponding period of the previous year. In FY24, the company’s turnover registered a growth of 14.35 per cent to ₹19,820 crore from ₹17,333 crore in FY23.
According to BEL, the company’s order book position as of 1st April 2024 stood at ₹75,934 crore.
The board of directors recommended a final dividend of ₹.0.80 per equity share (having a face value of ₹1/- each), which is subject to the approval by the shareholders in the ensuing annual general meeting of the company.
The shares closed at ₹274, up by 5.87 per cent at the end of trading hours compared to the broader Sensex, which closed by ₹73,953.31 down by 0.071 per cent.
In February, the Ministry of Defence signed a ₹2,269 crore contract with the state-owned BEL to procure 11 Shakti Electronic Warfare Systems along with associated equipment for the Indian Navy.
(Inputs from bl intern Vidushi Nautiyal)