BEL Stock Trades 10% Higher On Robust Q4 Results
BEL reports 30 per cent YoY growth in consolidated net profit to Rs 17.97 billion against Rs 13.82 billion a year ago
The shares of Bharat Electronics (BEL) rose as much as 10 per cent in the Tuesday trading session after the defence PSU stock registered an increase in its consolidated attributable net profit to Rs 17.97 billion in the fiscal fourth quarter ended March 31.
BLE stock traded with 6.57 per cent gain at Rs 275 in the afternoon session on the National Stock Exchange (NSE).
BEL reported 30 per cent year-on-year (YoY) growth in consolidated net profit to Rs 17.97 billion against Rs 13.82 billion a year ago.
The firm’s revenue also surged more than 32 per cent to Rs 85.64 billion from 64.79 billion rupees a year earlier.
Earnings per share came in at Rs 2.46, compared to Rs 1.90, while the board of directors recommended a final dividend of Rs 0.80 per equity share for the financial year 2023-24.
Brokerage firm, Jefferies said BEL export orders are a "surprise element", with expectations that exports could rise to over 10 per cent of sales by FY30 from the current 2 to 3 per cent in FY24.
In terms of stock performance, the BEL stock delivered more than nearly 50 per cent year-to-date (YTD) returns.
