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Bharat Dynamics soars 16% on robust December quarter results

The stock soared 16 per cent to Rs 263 on the BSE in an otherwise weak market after the company reported a robust net profit of Rs 188 crore in December 2018 quarter.

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Missiles displayed during a recent military parade in North Korea. Photo: Reuters

SI Reporter Mumbai
Shares of Bharat Dynamics soared 16 per cent to Rs 263 apiece on the BSE in an otherwise weak market after the company reported a robust net profit of Rs 188 crore in December 2018 quarter (Q3FY19). The state-owned defence company had a profit of Rs 6.18 crore in the year-ago quarter.

The company’s operational revenue during the quarter under review grew 26 per cent to Rs 1,038 crore against Rs 822 crore in the corresponding quarter of previous fiscal.

On January 8, 2019, Bharat Dynamics had signed a contract worth of Rs 760 crore approximately with the Indian Army