BEL Q1 results: Net profit up 23% YoY to Rs 531 crore, beats estimate

The order book position of the company as on July 1, 2023 stood at Rs 65,356 crore. (Representative image)

State-owned aerospace and defence electronics manufacturer Bharat Electronics Ltd (BEL) on July 27 reported a 23 percent YoY rise in net profit at Rs 530.84 crore for the quarter ended June, 2023. In the corresponding period last year, profit after tax came in at Rs 431.49 crore.

Revenue from operations stood at Rs 3,446.69 crore in the quarter under review as compared to Rs 3,063.58 crore a year ago.

Net profit surpassed analysts expectation whereas revenue missed estimate.

According to an average of three brokerage firms, BEL’s standalone revenue is likely to grow by 13 percent YoY to Rs 3,506.3 crore, whereas net profit growth could be largely subdued. Profit after tax is seen increasing merely three percent on year to Rs 442.4 crore, as per the poll conducted by Moneycontrol.

EBITDA (Earnings Before Interest Tax Depreciation and Amortization) rose 29 percent YoY to Rs 664.4 crore.

EBITDA margin expanded to 18.9 percent in the June quarter from 16.5 percent in the year ago period. This was supported by a decline in cost of materials consumed and consumption of stock-in-trade.

The order book position of the company as on July 1, 2023 stood at Rs 65,356 crore.