Stocks of Bharat Dynamics Limited (BDL) slumped 4% due to a fallen turnover as it released its fourth-quarter results. According to the provisional and unaudited statement for the financial year ending March 31, 2024, BDL reported a turnover of approximately Rs. 2350 Crore. This represents a decrease from the previous year’s figure of Rs. 2489.39 crore.

The decline in turnover can be attributed to the prevailing geopolitical situation in Europe and the Middle East, which has significantly impacted the company’s supply chain. Furthermore, the provisional and unaudited statement of the company’s order book position as of April 1, 2024, indicates a figure of Rs. 19468 Crore.

In the third quarter of the financial year 2023-24, Bharat Dynamics released its financial report, revealing a consolidated net profit of Rs. 135 crore for the quarter ending December 2023. This represents a significant 61% increase compared to the previous year when the profit was Rs. 84 crore.

The company also experienced a substantial 30% year-on-year growth in consolidated revenue from operations, reaching Rs. 602 crore for the same period. Additionally, the Earnings before interest, tax, depreciation and amortisation (EBITDA) for the reporting period saw a notable increase of 32%, amounting to Rs. 119 crore, compared to Rs. 90 crore in the previous fiscal year.

At 1:00 pm, the shares of BDL were trading 3.21% lower at Rs 1,716.90 on NSE.