Bharat Electronics net flat at Rs 148 cr

BS 200 Scorecard

Bangalore-based public sector company Bharat Electronics has reported a flat profit "� up a mere 1.10 per cent "� for the second quarter (ended September 30, 2006) of 2006-07, as there had not been much improvement in its topline. The company's Q2 profit stood at Rs 148.29 crore compared with Rs 146.67 crore for the quarter ended September 30, 2005.

"The flat growth in net profit was owing to late receipt of some orders and delay in the evaluation of certain products by the customers. We expect to perform much better in the second half of the current financial year, as we will be getting more executable orders in the remaining months," a company official said.

The company's total income rose 3.78 per cent to Rs 885.12 crore for the September quarter against Rs 852.80 crore for the same quarter a year earlier. The operating profit of the company for the period was up a marginal 3.55 per cent at Rs 237.38 crore vis-a-vis Rs 229.24 crore reported in the corresponding quarter of 2005-06.

Its earning per share also improved marginally from Rs 18.33 in Q2 of FY06 to Rs 18.54 at the end of September this year.

According to the company, its sales and production are expected to further improve in the subsequent quarters, given the orders on its hand and expected orders over the remaining part of the year.