Bharat Electronics Reports 18% PAT Growth In January-March Quarter

Bharat Electronics Ltd reported a net profit of ₹21.05 billion for the January-March quarter, up just over 18% year on year but marking a nine-quarter low in growth. The result beat street estimates by 21%. Revenue rose around 7% to ₹91.2 billion from ₹85.3 billion a year earlier, also surpassing expectations.

Strong order inflows from the defence segment and timely execution during 2023-24 helped strengthen the company’s financial position, creating a high base compared to the previous year. The order book stood at ₹716.5 billion as of 1 April.

Other income fell 12% to ₹1.9 billion, but higher operating income led total income to rise 6.5% to ₹93.1 billion.

Total expenses increased moderately by 1.6% to ₹64.7 billion from ₹63.6 billion. Cost of materials consumed fell over 3% to ₹44.3 billion, while stock-in-trade consumption dropped around 2% to ₹1.7 billion.

Employee costs rose 20.4% to ₹7.6 billion, and finance costs surged 47.6% to ₹58 million. Depreciation and amortisation climbed nearly 16% to ₹1.4 billion, while other expenses fell 33% to ₹8.2 billion, helping control the overall rise in costs.