State-run Bharat Electronics Ltd on Thursday reported standalone net profit of Rs 346 crore for second quarter (July-September) of this fiscal (2016-17), registering 68 per cent growth from Rs 206 crore in same period year ago.
In a regulatory filing to the stock exchanges, the city-based defence behemoth said standalone income from operations increased 16 per cent year-on-year (YoY) to Rs 1,795 crore in the quarter under review (Q2) from Rs 1,677 crore in like period year ago.
Though gross profit grew 71 per cent YoY to Rs 464 crore from Rs 271 crore year ago, sequentially it declined 4.5 per cent from Rs 486 crore in first quarter (April-June) of this fiscal.
Sequentially, net profit, however, shot up by a whopping 861 per cent from Rs 36 crore in Q1, as the total income was Rs 928 crore due to slump in sales, execution and delivery.
--IANS
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