Bangalore-based defence public sector, Bharat Electronics Limited (BEL), today reported a robust 91.8 per cent rise in net profit at Rs 237.3 crore for the second quarter ended September 30, 2009 compared to the corresponding quarter last fiscal. The operating profit for the quarter went up over two times to Rs 300.8 crore compared to the same period last year.
The company’s sales income during the quarter under review grew by 65.3 per cent to Rs 1,307.8 crore as against the same period a year ago.
Ashwani Kumar Dutt, chairman and managing director, BEL attributed the rise in profits to cost cutting and competitive pricing policy adopted by the company.
Their order book position also improved by Rs 4,000 crore during the quarter and currently, it stands at Rs 12,150 crore, an overall growth of 21.5 per cent compared to the April 2009 levels. “All our units have done well during this quarter. This is a result of our efforts put in over the last few quarters,” he added.