Bharat Dynamics Q4 results: Net profit zooms 89% to ₹289 crore, dividend declared

Defence manufacturer Bharat Dynamics on Thursday, May 30, posted a net profit of ₹288.8 crore in the quarter ended March 2024, which is 89% higher as compared to the year-ago period.

The Hyderabad-headquartered company, which is a subsidiary of the Ministry of Defence, had posted a net profit of ₹152.8 crore in the March 2023 quarter.

The net profit during Q4FY24, at ₹288.8 crore, more than doubled sequentially as compared to ₹137 crore in the quarter ended December 2023.

The climb in revenue from operations was relatively modest, as it grew 7% year-on-year to ₹854.1 crore. In the fourth quarter of the preceding fiscal year, it stood at ₹798.3 crore.

The revenue from operations of the state-run company was also higher sequentially, as it stood at ₹601.6 crore in Q3FY24.

Bharat Dynamics declares dividend

The board of directors of the company recommended a final dividend of ₹0.85 per share at face value of ₹5 each for the fiscal year ended March 31, 2024, Bharat Dynamics said, adding that the dividend payout will be subject to the approval of shareholders at the ensuing Annual General Meeting (AGM).

The amount will be paid to the eligible shareholders, if cleared by the shareholders, within 30 days from the date of AGM.

Ahead of the release of Q4 results, shares of Bharat Dynamics settled 0.44% higher at ₹1,547.5 apiece on the NSE. Year-to-date, the stock has rallied by 79%.