BEL net up 39 per cent in second quarter

Bengaluru : State-run Bharat Electronics Ltd (BEL) on Friday reported Rs 571-crore net profit for the second quarter of fiscal 2018-19, registering a 39 per cent yearly growth from Rs 412 crore in the same period a year ago.

Sales turnover for the quarter under reference (Q2) grew 35 per cent year-on-year (YoY) to Rs 3,282 crore from Rs 2,432 crore in the like period year ago.

"We achieved a robust growth in sales turnover and a healthy profit in the second quarter as compared to the first quarter and same quarter year ago," said the city-based defence behemoth in a statement.

The company also secured new orders valued at Rs 14,338 crore during the first half (April-September) of the fiscal and the order book value as on October 1 was Rs 48,995 crore.

The company's blue-chip scrip of Re 1 face value gained Rs 4.10 per share on Friday to close at Rs 87.50 on the BSE as against Thursday's closing price of 83.40 and opening price of Rs 82.90.