Bharat Electronics drops after weak Q1 outcome

Bharat Electronics lost 2.64% to Rs 1,157.70 at 15:08 IST on BSE after net profit declined 11.07% to Rs 17.18 crore on 5.25% growth in total income to Rs 1010.58 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced during trading hours today, 26 July 2013.

Meanwhile, the S&P BSE Sensex was down 77.54 points or 0.39% at 19,727.22.

On BSE, 2,609 shares were traded in the counter as against average daily volume of 399 shares in the past two weeks.

The stock was volatile. The stock lost as much as 4.59% at the day's low of Rs 1,134.50 so far during the day. The stock rose as much as 0.88% at the day's high of Rs 1,199.65 so far during the day.

Bharat Electronics (BEL) was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad. BEL is among an elite group of public sector undertakings which have been conferred the Navratna status by the Government of India.

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