BEL posts 8% increase in Q3 net at Rs 296 cr

However, net sales in third quarter stood at Rs 1,500 crore, down 5.1%

Bharat Electronics Ltd on Wednesday reported eight per cent rise in net profit for the quarter ended December 31, 2015 against the corresponding quarter in the previous year. The company posted a net profit of Rs 295.7 crore during the third quarter as compared to Rs 271.80 crore during the same period last year.

Net sales in third quarter stood at Rs 1,500 crore, down 5.1 per cent from Rs 1,581 crore in the year-ago period.

The total income has decreased four per cent from Rs 1,721.7 crore in the third quarter of financial year 2014-15 to Rs 1,652.7 crore during corresponding quarter of the current financial year.

The income from operations has decreased by five per cent from Rs 1,608.24 crore in December 2014 to Rs 1,517.22 a year later. The quarter also saw total expenses drop by 7.41 year-on-year.

The BEL stock closed at Rs 1,207, down by 0.95 per cent on the BSE on Wednesday.