BEL rises on 41% jump in net profit

Shares of Indian state-owned aerospace and defence company, Bharat Electronics (BEL) are trading higher by 2% at Rs 1,243 after the company posted 41% increase in its net profit at Rs 207 crore for the quarter ended September 30, 2015 as against Rs 147 crore for the same quarter last year.

Meanwhile, the company’s total income has jumped from Rs 1405 crore in the corresponding quarter last year to Rs 1605 crore in the September quarter depicting a rise of 14%.

Earlier this month, BEL commissioned a new facility at an estimated investment of Rs 500 crore in Anantapur district bordering Karnataka which includes assembly hangars, hard stands for radars, and weapon integration, RF radiation sources for target stimulation, automatic test equipment, missile storage buildings among other facilities. 

The stock opened at Rs 1,258 and touched a high of Rs 1,268 on the BSE. A total of 35,838 shares changed hands on the BSE so far.