BEL net up 43% in Q1

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Bengaluru, July 31 (IANS) State-run Bharat Electronics Ltd (BEL) on Tuesday reported a Rs 180 crore net profit for the first quarter of fiscal 2018-19, registering 43 per cent annual growth from Rs 125 crore over the same period year ago.

“Sales turnover for the quarter (Q1) under review grew 23 per cent annually to Rs 2,078 crore from Rs 1,695 crore in the like period year ago,” said the city-based defence PSU in a statement here.

Profit before tax grew 40 per cent annually to Rs 250 crore from Rs 179 crore in the corresponding period year ago.

“The company’s order book as on July 1 was equivalent to Rs 41,645 crore,” added the statement.

The company’s scrip of Re 1 face value gained Rs 8.35 per share at the end of Tuesday’s trading on the BSE to close at Rs 115.95 as against Monday’s closing price of Rs 107.60 and opening rate of Rs 108.45.

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–IANS

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