Defence PSU and Nifty50 company Bharat Electronics (BEL) clocked a standalone turnover of Rs 4425.29 crore for the September quarter, growing by 14.8% as against Rs 3918.13 crore recorded a year ago, while the net profit came in at Rs 1091.27 crore, higher by 34.4% on year.
Shares of BEL sharply recovered from early lows in a weak market after the second quarter earnings. Bharat Electronics entered the Nifty 50 index a month ago, and the stock commands a market capitalisation of Rs 1.94 lakh crore. On a YTD basis, BEL shares are higher by 47%.
Leading defence equipment supplier BEL said its order book stands at Rs 74,595 crore at the end of the second quarter, and the company declared an EPS of Rs 1.49 per share as against Rs 1.11 per share a year ago.
BEL's H1FY25 revenue now stands at Rs 8,530 crore, which is higher by 16%, while the H1 net profit is at Rs 1,867 crore, higher by 39% on year.
The management said it will be participating in a Conference Call hosted by Nomura on Monday, October 28, at 03.00 pm.
Read More: Does BEL offer a case for investment?
BEL remains on track to meet its FY25 guidance, with attention now shifting to order inflows in the second half of the fiscal year, Macquarie had said in a recent note. Bharat Electronics has also entered the space products segment after teaming up with Canada-based Reliasat Inc.
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