Bharat Electronics Bags Rs 3,000 Crore Orders
Shares of Bharat Electronics (BEL) gained more than 3 percent in early trade on September 18 after the company bagged orders worth Rs 3,000 crore. The orders include a Rs 2,118.57-crore contract from Cochin Shipyard Limited for the supply of equipment for six next-generation missile vessels (NGMV) for the Indian Navy.
The company also received additional orders worth Rs 886 crore for the upgradation of AFNET SATCOM N/W and Akash missiles.
The latest contracts have taken BEL’s order book for FY24 so far to Rs 14,384 crore.
BEL had announced last month that it had received defence and non-defence orders aggregating to Rs 3,289 crore since July.
The company reported a 12.48% year-on-year increase in revenue from operations at Rs 3,533 crore and a 47.26% rise in net profit to Rs 539 crore in Q1FY24.
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