Bharat Electronics Q2 Results: Net Profit Rises Over 38%, Beats Estimates

Bharat Electronics Ltd.'s second-quarter profit rose, beating estimates.

The net profit of the company increased 38.4% year-on-year to Rs 1,092.8 crore for the quarter-ended September, according to an exchange filing on Friday. The consensus of analysts' estimates polled by Bloomberg had pegged the topline at Rs 843 crore.

Its revenue rose 14.9% to Rs 4,604.9 crore in the July-September period, as against Rs 4,009.1 crore over the same period last year. This was lower than the consensus estimate of Rs 5,159 crore, as per Bloomberg.

• Revenue up 14.9% to Rs 4,604.9 crore (Bloomberg estimate: Rs 5,159 crore).

• Ebitda rose 38% to Rs 1,400 crore (Bloomberg estimate: Rs 1,075 crore).

• Margin up 510 basis points to 30.4% versus 25.29% (Bloomberg estimate: 20.8%).

• Net profit rose 38.4% to Rs 1,092.8 crore (Bloomberg estimate: Rs 843 crore).

Shares of Bharat Electronics were trading 1.4% lower when the results were announced, as compared to a 1.1% advance in the Nifty 50.