 "BEL FY16 revenue up 12% to Rs 7,510 cr on sales of radar, EW systems")
Defence public sector undertaking Bharat Electronics Ltd said it reported a revenue increase of 12 per cent to Rs 7,510 crore for the year ending March as it pursued building more local products for the armed forces.
The Bengaluru-based supplier of radars and electronic warfare systems had reported revenue of Rs 6,695 crore in the year 2014-15, a BEL statement said. The firm had reported 47 per cent increase in exports to $58 million in 2015-16.
"During the year the company has given enhanced thrust on self-reliance and capacity building, higher investments in R&D and modernisation, forging new collaborations with technology partners and increased outsourcing to SME sector. These efforts will enable BEL to effectively address future opportunities in defence business and achieve the desired growth" BEL Chairman & Managing Director S K Sharma said in the statement.
