Bharat Electronics Ltd Q1 Results FY2023, PAT at Rs.431.49 crores

On 16th July 2022, Bharat Electronics Ltd announced its quarterly results for the first quarter of FY2023

Q1FY23 Key Highlights:

- The company reported revenue at Rs.3112.78 crores in Q1FY23 from Rs.1564.34 crores in Q1FY22 seeing growth of 98.98% YoY and a decline of 50.78% QoQ

- The company reported its Profit before tax at Rs. 578.1 crores seeing growth of 3715.7% YoY and a decline of 62.13% QoQ

- The Net Profit was reported at Rs. 431.49 crores with a growth of 3769.86% YoY and seeing a decline of 62.20% QoQ.

- Navratna Defence PSU Bharat Electronics Limited (BEL) has achieved a Turnover of Rs. 3063.58 Cr, during the 1st quarter of FY 2022-23 against the Turnover of Rs. 1564.34 Cr recorded in the corresponding period of the previous year

- The order book position of the company as on 1st July 2022 stood at Rs. 55333 Cr.

- In April this year, Bharat Electronics Ltd (BEL) contributed ₹2.26 crore to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund as part of its Corporate Social Responsibility (CSR). BEL in the last two years contributed ₹15.45 crore from its CSR Funds to PM CARES Fund, in support of the Government’s efforts in dealing with the challenges arising out of the COVID-19 Pandemic.

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 Air Force. The Government of India held a 51.14 percent stake in BEL as of March 31, 2022.