Bharat Electronics shares surge 8% as Q4 profit jumps 74%
As per ICICI Direct, a robust order book provides revenue visibility to the company over the medium-to-long term.
June 30, 2020 / 11:54 AM IST
Shares of Bharat Electronics (BEL) jumped 8 percent in the morning trade on BSE on June 30, a day after the company reported a 74.28 percent year-on-year (YoY) rise in March quarter net profit.
The net profit of the company rose 74.28 percent to Rs 1,046.73 crore in Q4FY20 as against Rs 600.59 crore during the corresponding quarter of the previous financial year.
Sales rose 51.43 percent YoY to Rs 5,728.57 crore in Q4FY20 against Rs 3,782.87 crore in Q4FY19.
Overall, BEL’s order book stood at Rs 51,970 crore as on April 1, 2020, while the export order book stood at $48.6 million.
Order inflows for the quarter came in at Rs 2,867 crore while order inflows for FY20 came in at Rs 13,200 crore with major orders like Akash Missile system (7 Sqdn), Coastal Surveillance system – phase II, upgrade of EW systems mart city business, etc.
As per brokerage firm ICICI Direct, a robust order book provides revenue visibility to the company over the medium-to-long term.
A strong balance sheet gives up reasonable confidence about the continued accelerated trajectory of the company, the brokerage said.
Shares of BEL traded 4.07 percent higher at Rs 90.80 on BSE around 11:30 hours.