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Last Updated : Apr 01, 2019 01:06 PM IST | Source: Moneycontrol.com

Bharat Electronics gains 2% as FY19 turnover grows 16%

BEL achieved a turnover of Rs 11,700 crore (provisional & unaudited) during the financial year 2018-19

 
 
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State-owned defence company Bharat Electronics gained more than 2 percent intraday on April 1 as it reported a 16 percent growth in turnover in FY19.

The stock was quoting at Rs 95.15, up Rs 1.85, or 1.98 percent on the BSE, at 1220 hours IST.

In its BSE filing, Navratna defence PSU said it achieved a turnover of Rs 11,700 crore (provisional and unaudited) during the financial year 2018-19, sustaining double-digit growth (an increase of 16 percent) over the previous year's turnover of Rs 10,085 crore.

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Its order book is Rs 51,600 crore as of April 1, 2019.

"The year saw an all-time high order acquisition of Rs 23,200 crore. Some of the major orders acquired during the year are long-range surface to air missile system, Kerala-Fibre Optics Network (KFON), smart city projects, integrated perimeter security solution (IPSS), weapon repair facility for naval ships, naval airfield integrated security system (NAISS), etc," BEL said.

The company achieved export sales of $21.87 million in FY19. Major products exported include coastal surveillance system spares, acoustic test facility, CoMPASS, cable looms, electro-mechanical parts etc, it said.

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First Published on Apr 1, 2019 01:06 pm
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