Bharat Electronics rose 1.62% to Rs 93.90 after consolidated net profit jumped 18.1% to Rs 395.96 crore on 19% increase in net sales to Rs 3,168.36 crore in Q2 September 2020 over Q2 September 2019.
Profit before tax (PBT) surged 19.2% to Rs 557.79 crore in Q2 September 2020 as against Rs 467.80 crore in Q2 September 2019. Current tax expense for the quarter soared 22% to Rs 161.83 crore as against Rs 132.61 crore in Q2 September 2019. The Q2 result was declared after trading hours on Friday, 6 November 2020.
The order book position of the company as on 1 October 2020 stood at Rs 52,148 crore. The company said its financial results for the current half year has been impacted by the lockdown on account of COVID-19.
BEL is a state-owned aerospace and defense company with about nine factories, and several regional offices in India. It primarily manufactures advanced electronic products for the Indian Armed Forces. The Government of India held 51.14% stake in BEL as on 30 September 2020.
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