Bharat Electronics Ltd (BEL), a government-owned aerospace and defense electronics company, recently announced its unaudited financial results for the second quarter, outperforming market estimates and further solidifying its position as a key player in the aerospace and defense sector.BEL’s board of directors convened to consider and approve these results, revealing significant achievements in various financial metrics. The state-owned defense company reported a standalone net profit of ₹812.34 crore for Q2FY24, showcasing a substantial year-on-year (YoY) increase of 32.9%. In contrast, during the same period in the previous fiscal year (Q2FY23), BEL had reported a net profit of ₹611.05 crore.
Importantly, BEL also demonstrated sequential growth in net profit. In the April to June 2023 quarter, the company’s net profit stood at ₹530.84 crore, suggesting that BEL has experienced growth both sequentially and YoY.During the first half of fiscal year 2023-24, BEL reported a standalone net profit of ₹1,343.18 crore, marking a robust 28.83% increase compared to the net profit of ₹1,042.54 crore in H1FY2023-24. This steady and significant growth in net profit is a testament to BEL’s financial stability and resilience.Moreover, BEL’s total income for the July to September 2023 quarter reached ₹4,163.83 crore, compared to ₹4,020.84 crore in Q2FY23. This reflects a 3.55% YoY increase in total income, indicating sustained financial growth and solid business performance.For the first six months of the fiscal year, the company’s total income stood at ₹7,816.33 crore, marking a 7.17% increase compared to its total income of ₹7,293.36 crore in H1FY23. This indicates that BEL has been successful in expanding its revenue and maintaining a healthy financial outlook.
The company’s EBIDTA (Earnings Before Interest, Depreciation, Taxes, and Amortization) or depreciation and amortization expenses were reported at ₹1,004.3 crore in the July to September 2023 quarter. This figure compares favorably to the ₹1,012.7 crore recorded in the April to June 2023 quarter and the ₹1,041.9 crore in Q2FY23. This reflects the company’s prudent financial management and cost control measures.
However, it is noteworthy that in the second quarter of the current fiscal year, the company’s revenue came in at ₹3,993.3 crore, which fell slightly below market estimates. The market had expected the total revenue of the company to be around ₹4,600 crore. While the revenue figures did not reach market expectations, BEL’s strong profitability and income growth indicate that the company continues to perform well and generate solid financial results.
