Canindia News

Bharat Electronics revenue grows 6% in 2019-20

Bengaluru, April 1 (IANS) State-run Bharat Electronics Ltd (BEL) on Wednesday reported 6 per cent annual growth in sales turnover for fiscal 2019-20 to Rs 12,500 crore.

“The company has posted Rs 12,500 crore turnover for fiscal 2019-20 as against Rs 11,789 crore a year ago,” said the city-based defence undertaking in a statement here.

The order book for the new fiscal (2020-21) is Rs 51,800 crore, including orders secured in the just-concluded fiscal (2019-20).

Some of the major orders from the three armed services are Akash missiles (seven squadrons), coastal surveillance systems, upgrade for electronic warfare system, radars and weapon systems, software defined radio, sonars and advanced communication systems.

Among the projects executed in the last fiscal are command and control systems, thermal imagers for tanks, upgrade of communication system, land-based EW systems, weapon repair facility, and a radars avionics package for the Light Combat Aircraft Tejas.

“The global lockdown due to Covid-19 and the economic slowdown had impacted us in March. Some projects could not be completed due to force majeure, which otherwise would have contributed to our revenues during the fiscal under review,” said company chairman M.V. Gowtama in the statement.

–IANS

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