Navratna PSU Bharat Electronics declares dividend, revenue surges 11% in Q3
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry of Defence, Government of India and the company manufactures electronic products and systems for the defense sector of the country. Today, the company has declared its Q3FY23 results along with a dividend of 60% for the financial year 2022-23.
The company said today in a stock exchange filing that “The Board of directors in their meeting held on 28th Jan. 2023 recommended an interim dividend of Rs. 0.60 per share (on face value of Rs.1/- each) on the enhanced share capital of the company post Bonus Issue of equity shares in Sept 2022. The said dividend will be payable to all the eligible shareholders holding shares as on the Record date i.e. 10th Feb. 2023.”
On a consolidated basis, Bharat Electronics Limited (BEL) declared revenue from operations of ₹4064.9 crore Cr in Q3FY23 as compared to ₹3660.84 crore posted in Q3FY22, registering a YoY growth of 11.04%. The company’s consolidated net profit reached ₹613.01 crore in the quarter ended December 2022 against ₹595.86 crore recorded in the quarter ended December 2021, registering a growth of 2.87% YoY. BEL’s EPS reached ₹0.83 in Q3FY23 as against ₹0.82 in Q3FY22.
On a standalone basis, Bharat Electronics Limited (BEL) declared revenue from operations of ₹4046.11 crore in Q3FY23 as compared to ₹3656.22 crore posted in Q3FY22, registering a YoY growth of 10.66%. The company’s standalone net profit reached ₹598.77 crore in the quarter ended December 2022 against ₹583.37 crore recorded in the quarter ended December 2021, registering a growth of 2.63% YoY. The company’s EPS reached ₹0.82 in Q3FY23 on a standalone basis as against ₹0.80 in Q3FY22.
Bharat Electronics Limited (BEL), a Navratna Defence PSU, has generated a turnover of Rs. 11005.89 Cr, up to the third quarter of FY 2022–23, representing a rise of 24.46% over the turnover of Rs. 8842.98 Cr recorded in the same period of the previous financial year. BEL generated a turnover of Rs. 4046.11 Cr. in the third quarter of FY 2022–23 as opposed to Rs. 3656.22 Cr. in the same quarter the year before. A rise of 35.77% over the Profit After Tax (PAT) of Rs. 1207.12 Cr. recorded in the same period of the prior year, the Profit After Tax (PAT) up to the third quarter of FY 2022–23 was at Rs. 1641.31 Cr.
On Friday, the shares of Bharat Electronics Limited (BEL) closed on the NSE at ₹94.90 apiece, down by 4.29% from the previous close of ₹99.15.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.