Bharat Electronics (BEL) added 1.22% to Rs 289.30 after the aerospace & defense firm received order from Cochin Shipyard for supply of indigenous multi function radar worth Rs 850 crore.
The order from Cochin Shipyard consists of supply of indigenous multi function radar in X band. This fully indigenous radar designed by DRDO and manufactured by BEL is capable of detecting, acquiring and tracking airborne targets to provide protection to naval ships.
Additionally, the company has secured orders valued at Rs 305 crore following the last disclosure on 22 August 2024, which include navigational complex system for ships, thermal imagers, communication equipment, fire control system, gun control system, spares, services, etc.
With these orders, the company has now accumulated orders totaling Rs.7, 075 Cr. in the current financial year.
Navratna PSU BEL is a multi-product, multi-technology, multi-Unit conglomerate which designs, manufactures and supplies products and systems in a wide variety of fields including radars, missile systems, military communications, naval systems, electronic warfare & avionics, C4I systems, electro optics, tank electronics & gun/weapon system upgrades, and electronic fuzes in the defence segment. As on 30 June 2024, the Government of India held 51.14% stake in the company.
The company reported 46.9% growth in consolidated net profit to Rs 791 crore in Q1 FY25 as against Rs 538.48 crore in Q1 FY24. Revenue from operations jumped 20.1% year on year (YoY) to Rs 4243.57 crore in the quarter ended 30 June 2024.
Shares of Bharat Electronics rose 0.51% to currently trade at Rs 287.25 on the BSE.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Sep 11 2024 | 2:53 PM IST
