Bharat Electronics (BEL)'s consolidated net profit soared 116.5% to Rs 584.87 crore on a 61.3% surge in net sales to Rs 3,660.84 crore in Q3 FY22 over Q3 FY21.
Consolidated profit before tax (PBT) jumped 108.4% to Rs 790.85 crore in Q3 FY22 from Rs 379.55 crore in Q3 FY21. The order book position of the company as on 1 January 2022 stood at Rs 56,568 crore.
The board of BEL has approved the increase in authorised capital of the company to Rs 750 crore from its existing Rs 250 crore.
Furthermore, the board on 28 January 2022, has also declared an interim dividend of Rs 1.50 per equity share of Re l each fully paid-up (i.e. 150%) for the FY2021-22. The board has fixed Thursday, 10 February 2022 as record date for the purpose of payment of interim dividend on equity shares for the FY2021-22.
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.
Shares of BEL gained 1.07% to end at Rs 207.05 on BSE yesterday, 28 January 2022. The Government of India held 51.14% stake in BEL as on 31 December 2021.
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