Key Points
BEL bags defence orders worth Rs 577 crore
Navratna PSU reports 47.3% net profit growth
Consolidated revenue increases 38.6% in Q3
Major orders include airborne electronic warfare products, advanced composite communication systems for submarines, Doppler weather radars, train communication systems, radar upgradation, spares and services.
The total accumulated orders received by the BEL during the current financial year have now gone up to an impressive Rs 13,724 crore.
Prior to this on Feb 20, BEL signed a contract valued at Rs 1,034 crore with the Ministry of Defence for the supply of Software Defined Radios (SDRs) and Data Communication Terminals (DCTs) for the Indian Coast Guard.
The state-of-the-art radios, indigenously developed jointly by DEAL (DRDO) and BEL, support multi-band, multi-channel, multi-role/mission operations to meet the needs of network-centric warfare. The DCT system enables communication between shore and ships with the accuracy, speed, security and reliability required for critical missions.
BEL has reported a 47.3 per cent growth in its net profit for the third quarter ended December 2024 to Rs 1,316.06 crore compared to Rs 893.30 crore in the same quarter of the previous year.
The Navratna defence public sector company's consolidated revenue from operations in the third quarter shot up by 38.6 per cent to Rs 5,770.69 crore, from Rs 4,162.16 crore reported in the corresponding quarter of the previous financial year.
Profit before tax stood at Rs 1,754.15 crore in the third quarter of 2023-24, registering a growth of 49.64 per cent on a year-on-year basis.
Total expenses grew 31.98 per cent year-on-year to Rs 4,207.05 crore in the October-December quarter. The cost of materials consumed stood at Rs 3,191.02 crore (up 46.07 per cent) while employee benefits expenses were at Rs 665.32 crore, up 7.38 per cent year-on-year during the quarter.
BEL is a multi-product, multi-technology conglomerate which designs, manufactures and supplies products and systems in a wide variety of fields including radars, missile systems, military communications, naval systems, electronic warfare & avionics systems, electro-optics, tank electronics & gun system upgrades, and electronic fuses in the defence segment. As of September 31, 2024, the Indian government held a 51.14 per cent stake in the company.
