BEL Q1 results: Net profit soars 46% YoY to ₹776 crore, revenue up 19%

State-owned defence manufacturer Bharat Electronics Ltd (BEL) logged a standalone net profit of ₹776 crore in the first quarter of fiscal year 2024-25 (Q1FY25), a regulatory filing showed on Monday, July 29.

The net profit reported by the company is 46.1% higher as compared to ₹531 crore in the year-ago period. It has also surpassed the estimated net profit of ₹706 crore, as shared by CNBC-TV18.

The central public sector undertaking (PSU) reported a standalone revenue from operations of ₹4,199 crore in the June 2024 quarter, which is 19.6% higher as against ₹3,511 crore in the year-ago period.

The revenue growth has surpassed the estimate shared by analysts tracked by CNBC-TV18. The news channel had projected the revenue to rise to ₹3,953 crore.

Meanwhile, the earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at ₹937 crore during the quarter under review. This marked a jump of 41% from ₹665 crore in the June 2023 quarter.

The EBITDA margin has improved by 330 basis points to 22.3% in Q1FY25, as against 19% in Q4FY24.

BEL shares spike

After the Q1 results were out, Bharat Electronics' shares surged to a high of ₹325.6 apiece on the National Stock Exchange (NSE) at around 2:10 pm. This was up 5% as against the last closing price.

As trading progressed, the shares pared some of the gains and were trading 3.5% higher at ₹320.8 apiece at 2:36 pm.

Year-to-date, the stock has given returns of around 73%, whereas the surge has been sharper at about 145% in the past 12 months.