BEL profit up 36% to Rs 429 crore

BS 200 SCORECARD

Bharat Electronics Ltd (BEL), the public sector defence electronics firm, posted profit after tax of Rs 429 crore on a turnover of Rs 3,224 crore for the year to March, 2005.

Profit grew 36 per cent and turnover rose 15 per cent.

The company's profit before tax grew 40 per cent to Rs 656 crore. During the year, the company's order book position grew to Rs 6,000 crore.

This fiscal, the firm has targetted revenues of Rs 3,600 crore.

Exports grew too during the year by 40 per cent to $13 million and this year our exports revenues will touch $20 million.

Bharat Electronics's export order books too grew to $38 million, including an order from the Royal Nepal Army worth $5.4 million, a $8.2 million contract for radar warning receivers to the Russian Aircraft Corporation, a $16.82 million contract to supply communication and night vision equipment to Sudan and a contract worth $1.6 million to supply communication, night vision and solar equipment to Suriname.

The company's important exports during the financial year included supply of spares to the 3-d radar TRS2215 to the Indonesian Air Force, refurbishment of the Cybeline radar for Egypt, supply of laser range finders to Israel, supply of solar powered traffic signalling system for 32 junctions to the ministry of public works of Suriname, supply of night vision devices and solar lantern to the Suriname armed forces, supply of solar cells to Germany and supply of x-ray parts to GEMS of United States, the release said.

However, the defence sector continued to be main customer, accounting for 85 per cent of the company's turnover, a release said.