BEL Q1 net profit surges by 46.2 per cent to Rs 776 crore

New Delhi, July 27: Navratna defence PSU Bharat Electronics Ltd (BEL) on Monday reported a 46.2 per cent increase in net profit to Rs 776.14 crore for the April-June quarter of FY 2024-25 from Rs 530.84 crore in the same period of the previous year, according to a company statement.

The Profit Before Tax (PBT) during Q1 of FY 2024-25 stood at Rs 1,037.34 crore, with a growth of 47.40 per cent over the PBT of Rs 703.75 crore recorded in the corresponding period of the previous year.

BEL has achieved a turnover of Rs 4,105.14 crore, registering a growth of 19.10 per cent during the first quarter of FY 2024-25, compared to Rs 3,446.69 crore recorded in the corresponding period of the previous year.

Recording a sharp rise in defence orders resulting from the Aatmanirbhar drive of the government, the order book of the defence major, as on July 1, 2024, stood at Rs 76,705 crore.

Earlier this year, BEL received an order valued at Rs 1,092 crore from Larsen & Toubro for the supply of Communication and Electronic Warfare (EW) sensors and systems.

As part of the deal, BEL will supply 14 "cutting edge" domestically manufactured EW sensors and systems to L&T, the company said in a regulatory filing. These state-of-the-art systems, manufactured domestically by BEL, will be installed on three Cadet Training Ships for the Indian Navy. This collaboration between BEL and L&T exemplifies the strong partnership between the two companies and underscores the broader cooperation within the Indian industry to cater to the increasing orders.

Additionally, BEL has secured other orders valued at Rs 1,092.65 crore which encompass the supply of LRUs for T-70 and T-90 Tanks, communication systems for the Indian Navy, as well as other spares and services.