Bharat Electronics Q1 Results Total Revenue ₹4,243.57 Crores & Operating Profit ₹840.52 Crores

Bharat Electronics Q1 Results: In the first quarter of the fiscal year 2024 (Jun 24), Bharat Electronics experienced notable changes compared to the previous quarter and the same quarter last year. Year-over-year (YoY), the company’s total revenue increased by 20.11% from ₹3,532.94 crores in Jun 23 to ₹4,243.57 crores in Jun 24. However, quarter-on-quarter (QoQ), there was a significant decrease of 50.45% from ₹6,479.12 crores in Mar 23. This means that while the company’s revenue grew from the previous year, it dropped sharply compared to the last quarter.

Bharat Electronics’ selling, general, and administrative expenses YoY rose by 6.03%, from ₹628.68 crores in Jun 23 to ₹666.57 crores in Jun 24. Compared to the previous quarter, these expenses increased by 4.58% from ₹563.61 crores in Mar 23. On the other hand, the total operating expenses decreased by 46.79% QoQ, but increased by 14.61% YoY.

Bharat Electronics’ Operating income showed a significant YoY increase of 49.14%, but a sharp QoQ decline of 61.24%. Net income also increased YoY by 46.89%, but fell by 55.98% quarter-on-quarter. Finally, the diluted normalized EPS improved YoY by 45.95% but decreased QoQ by 56.10%.

Here is the quarterly financial summary for Bharat Electronics for Q1:

(Rs. in Crores)

Source: Here 

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Bharat Electronics Q1 Results

Bharat Electronics shows financial results for different periods. For the quarter ending on June 30, 2024, Bharat Electronics earned ₹19,877 lakhs from its main business activities, and an additional ₹4,19 lakhs from other sources, totaling ₹23,296 lakhs in income. In comparison, the previous quarter ending March 31, 2024, showed higher income, with ₹40,027 lakhs from operations and ₹8,74 lakhs from other sources, making the total ₹48,801 lakhs.

Bharat Electronics’ expenses increased significantly in the June 2024 quarter. Major costs included ₹52,115 lakhs for materials, ₹6,688 lakhs for stock, and a loss of ₹29,740 lakhs from inventory changes. Employee benefits cost ₹66,078 lakhs, while other expenses were also substantial. These expenses resulted in a total cost of ₹1,36,295 lakhs for the June 2024 quarter.

Bharat Electronics’ profit before tax for the June 2024 quarter was ₹1,03,734 lakhs, down from ₹2,38,561 lakhs in the previous quarter. After deducting taxes of ₹28,454 lakhs, the net profit was ₹77,614 lakhs. This was lower compared to the previous quarter's profit of ₹1,78,352 lakhs. Total comprehensive income, which includes profit and other gains, was ₹82,839 lakhs for June 2024.

Here's a simplified summary of the standalone financial results:

(in Lakhs) 

Bharat Electronics Stock Metrics

Bharat Electronics' financial table provides an overview of the company's market and performance metrics. The Market Cap is ₹2,12,130 Crores, indicating the total value of all its shares. The Current Price of the stock is ₹290. It has reached a high of ₹340 and a low of ₹127 in recent times. The Stock P/E ratio of 50.2 suggests investors are willing to pay ₹50.2 for every ₹1 of earnings. The Book Value, which is ₹22.3, represents the company's net worth per share. The Dividend Yield is 0.75%, showing the return on investment through dividends. 

Here's the information in table format:

Quarterly Results 

The table shows Bharat Electronics' financial results over several quarters. For December 2023, the company earned Rs. 4,162 crores in sales and spent Rs. 3,090 crores, resulting in an operating profit of Rs. 1,072 crores. Their operating profit margin (OPM) was 26%. Other income was Rs. 167 crores, and they paid Rs. 1 crore in interest and Rs. 107 crores in depreciation. Their profit before tax was Rs. 1,132 crores, and after taxes, they made a net profit of Rs. 860 crores with an earnings per share (EPS) of Rs. 1.18.

Here’s the quarterly results for Dec 2023, Mar 2024, and Jun 2024:

About Bharat Electronics 

Bharat Electronics is a major Indian company that makes electronic equipment for defense and aerospace. Founded in 1954 in Bangalore, Karnataka, BEL has grown to become a leading public-sector enterprise under the Ministry of Defence of India. The company started by producing communication equipment and has since expanded its range to include advanced technologies for ground and aerospace applications.

Bharat Electronics began with making receiving valves and germanium semiconductors. By the 1960s, it was manufacturing radio transmitters with help from the Soviet Union. Over time, BEL introduced many new products, including radar systems, TV transmitters, and military communication equipment. The company also established several units across India to meet the growing demand and to support various defense needs.

Bharat Electronics has achieved several milestones, such as opening its first overseas office in New York in 1980 and setting up a Space Electronic Division to support satellite programs in 1982. It has also taken over other companies and expanded its manufacturing facilities to improve its product offerings. Today, BEL is known for its innovative technology and plays a crucial role in India's defense and aerospace sectors.