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What is the story about?
Shares of Bharat Electronics Ltd
. (BEL) surged as much as 10% on Wednesday, January 28, in response to their December quarter results, that were significantly better than analyst projections.
BEL's revenue for the period increased by 23.7% to ₹7,122 crore from ₹5,756 crore last year. The figure was higher than the CNBC-TV18 poll of ₹6,710 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 28% year-on-year to ₹2,117 crore, which was also higher than the CNBC-TV18 poll of ₹1,884 crore.
EBITDA margin expanded by 100 basis points to 29.7% from 28.7% last year. A CNBC-TV18 poll had in fact, projected a 60 basis points contraction in its margins to 28.1%.
Net profit for the period saw a growth of 20.8% year-on-year to ₹1,590 crore, higher than the CNBC-TV18 poll estimate of ₹1,474 crore. The growth in profitability is despite a ₹16.6 crore impact due to the new labour laws.
At the end of the quarter, Bharat Electronics reported an order book of ₹73,015 crore.
Shares of Bharat Electronics are trading 10% higher on Wednesday after the results announcement, and are currently among the top gainers on the Nifty 50 index. The stock is now trading at a record high of ₹457.5.
The stock has risen 70% over the last 12 months.
BEL's revenue for the period increased by 23.7% to ₹7,122 crore from ₹5,756 crore last year. The figure was higher than the CNBC-TV18 poll of ₹6,710 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 28% year-on-year to ₹2,117 crore, which was also higher than the CNBC-TV18 poll of ₹1,884 crore.
EBITDA margin expanded by 100 basis points to 29.7% from 28.7% last year. A CNBC-TV18 poll had in fact, projected a 60 basis points contraction in its margins to 28.1%.
Net profit for the period saw a growth of 20.8% year-on-year to ₹1,590 crore, higher than the CNBC-TV18 poll estimate of ₹1,474 crore. The growth in profitability is despite a ₹16.6 crore impact due to the new labour laws.
At the end of the quarter, Bharat Electronics reported an order book of ₹73,015 crore.
Shares of Bharat Electronics are trading 10% higher on Wednesday after the results announcement, and are currently among the top gainers on the Nifty 50 index. The stock is now trading at a record high of ₹457.5.
The stock has risen 70% over the last 12 months.
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