BEL posts 19 per cent hike in net profit in Q2
DSIJ Intelligence / 31 Oct 2017
Bharat Electronics posted a 19 per cent increase in its net profit for the second quarter of FY18, at Rs. 412 crore. the stock of the company soared by around 10 per cent to hit its record high of Rs. 193 per share.
Bharat Electronics posted a 19 per cent increase in its net profit for the second quarter of FY18, at Rs. 412 crore against Rs. 346 crore in the same quarter of the previous year. The company ’s net turnover increased by 46 per cent to Rs. 2,432 crore in the Q2FY18 period on a yearly basis.
Following the announcement of the results, the stock of the company soared by around 10 per cent to hit its record high of Rs. 193 per share in the intraday trade on Tuesday, surpassing its previous high of Rs. 181 per share touched on September 13.
The company boasted of an order book worth Rs. 41,746 crore as on October 1, 2017, recording an increase of Rs. 1,504 crore between April-October period.
The stock closed with a gain of over 5 per cent at Rs. 184.80 per share on BSE. The stock also recorded a spurt in volume by more than 16.71 times on BSE on Tuesday.
Headquartered in Bengaluru, Bharat Electronics Limited is a state-owned aerospace and defence company.
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