BEL net up 77.53% at Rs 592.69 cr in Q4

The net sales for the quarter was up 22.20% to Rs 2,727.63 over the year ago period

Bharat Electronics Limited (BEL), the Bangalore-based public sector defence undertaking, on Thursday reported 77.53 per cent rise in its net profit at Rs 592.69 crore for the fourth quarter-ended March 31, 2013, compared to Rs 333.84 crore during the corresponding quarter last year.

The net sales for the quarter was up 22.20 per cent to Rs 2,727.63 over the year ago period. During the fourth quarter, the company reported an operating profit of Rs 555.46 crore, a growth of 90 per cent over that reported during the corresponding quarter last year. A 17.68 per cent rise in the other income at Rs 173 crore helped the company report a higher growth in net profit.

During the year 2012-13, the company received orders worth Rs 5,255 crore and presently its order book is worth Rs 24,949 crore after including the backlog. Of this, the company's export order book accounts for $94.08 million. The company's turnover from indigenous products was 78 per cent during the year and the defence business accounted for 15 per cent of the total turnover. The total turnover during the year was Rs 6,273 crore, a growth of 8.3 per cent over the previous year.

In addition to the interim dividend of Rs 6 per share paid during the last quarter, the board has recommended a final dividend of Rs 16.30 per share. During the year 2012-13, BEL acquired major orders like the National Population Register, Radar & Sonar for Myanmar, Mobile Cellular Communication System, HUMSA New Generation, electronic support measure system for small ships, infrastructure for Akash (six squadrons), advanced composite communication system and Sanket for Pipavav, AMC for surveillance radar element. During the year, the company completed delivery of the Akash Missile System for two squadrons and commenced supply for another six squadrons. For the year 2013-14, BEL signed MoU for Rs 6,750 crore.

It has also supplied passive night vision devices, central acquisition radar and National command control communication and intelligence system among others.

For the year 2013-14, BEL signed MoU for Rs 6,750 crore. turnover. It is also expecting fresh orders worth Rs 6,000 crore during the year. It is also looking forward to receive orders for weapon locating radar, missile warning system, mobile cellular communication system, passive night vision devices and hand held thermal imager with laser range finder among others.