Bharat Electronics (BEL) fell 4.17% to Rs 221.60 after the PSU company reported a 15.6% fall in standalone net profit of Rs 1,141.81 crore in Q4 FY22 from Rs 1,352.38 crore posted in Q4 FY21.
Net sales declined 8.2% to Rs 6,200.69 crore for the quarter ended 31 March 2022 from Rs 6,757.05 crore recorded in the corresponding period last year.
Profit before tax tumbled 20.9% to Rs 1,526.56 crore in Q4 FY22 from Rs 1,930.53 crore in Q4 FY21. Total expenses shed 3.7% to Rs 4,757.09 crore in Q4 FY22 over Q4 FY21.
Cost of material consumed rose 10.7% to Rs 3,394.76 crore and employee benefits expenses surged 20.82% to Rs 577.75 crore.
On full year basis, the company recorded 13.7% increase in net profit to Rs 2,348.93 crore on a 8.9% rise in net sales to Rs 15,043.67 crore in FY22 over FY21.
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The order book position of the company as on 1 April 2022 stood at Rs 57,570 crore.
Meanwhile, the board of directors of the company recommended a final dividend of Rs 1.50 per equity share, for the financial year ended 31 March 2022.
State-run BEL is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures electronic products and systems for the Army, Navy and the Air Force. The Government of India held 51.14% stake in BEL as on 31 March 2022.
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