Bharat Electronics Limited (BEL) shares surged by 9.35% following the company’s better-than-expected earnings for the quarter ended March 2024, as per its recent regulatory filing.

Bharat Electronics Limited (BEL) achieved a turnover of Rs. 19819.93 Crore in FY 2023-24, marking a growth of 14.35% from the previous year’s turnover of Rs. 17333.37 Crore.

In the 4th Quarter of FY 2023-24, BEL achieved a turnover of Rs. 8335.01 Crore, compared to Rs. 6327.48 Crore in the same period the previous year.

Profit Before Tax (PBT) for FY 2023-24 was Rs. 5334.56 Crore, reflecting a growth of 33.87% from the previous year’s PBT of Rs. 3984.88 Crore.

In the 4th Quarter of FY 2023-24, PBT increased to Rs. 2385.61 Crore from Rs. 1781.49 Crore in the corresponding period of the previous year.

Profit After Tax (PAT) for FY 2023-24 stood at Rs. 4020.00 Crore, showing a growth of 33.70% from the previous year’s PAT of Rs. 3006.67 Crore.

In the 4th Quarter of FY 2023-24, PAT increased to Rs. 1783.52 Crore from Rs. 1365.36 Crore in the corresponding period of the previous year.

The company reported a 30% year-on-year rise in its consolidated net profit at Rs. 1,797 crore. Its revenue from operations also jumped 32% to Rs. 8,564 crore, driven by strong revenue growth.

The order book position of the company as of 1st April 2024 was Rs. 75934 Crore.

In February, the defense ministry signed a deal worth Rs 2,269 crore with BEL for the procurement of 11 Shakti warfare systems, along with associated equipment.

The Board of Directors recommended a Final Dividend of Rs. 0.80 per Equity share, subject to the approval by the Shareholders in the ensuing Annual General Meeting of the Company.

At 3:30 pm, the shares of BEL closed 5.87% higher at Rs 274.00 on NSE.