Bharat Dynamics’ share price dropped significantly following the release of its first-quarter earnings results. Here’s a detailed overview:
Key Highlights
- Share Price Decline: As of 10:50 AM, Bharat Dynamics shares were trading 6.69% lower at ₹1,338.10.
Financial Performance
- Net Profit: The company reported a steep 82% decline in net profit, falling to ₹7.21 crore for the quarter ending June 30, 2024. This compares to ₹40.42 crore in the same period last year.
- Revenue: Operational revenue dropped by 35% year-over-year to ₹191.6 crore, down from ₹295.6 crore.
- Analyst Expectations: Bharat Dynamics’ results fell short of analyst expectations, which projected a net profit of ₹71.23 crore and revenue of ₹475.87 crore.
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