BEL dips on weak Q2 earnings

Q2 EPS stood at Rs 10.03 compared to Rs 15.63 recorded last year

Bharat Electronics Limited (BEL) has dipped 4.5%  at Rs 1,200 in opening trades on reporting 36% year-on-year fall in its net profit at Rs 80 crore for the second quarter ended September 2012.

“The company’s revenues are flat (0.76%) at Rs 1,064 crore compared to the same quarter last year. EPS (earning per share) stood at Rs 10.03 compared to Rs 15.63 recorded last year,” the state-owned company said in statement.

The stock opened at Rs 1,206 and hit a low of Rs 1,189 on the BSE. A combined around 4,500 shares have changed hands on the counter in opening deals.