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Yes Securities Report
Bharat Electronics Ltd.'s reported weaker than expected revenue growth, with a strong margin performance compensating for the same, resulting in profit after tax coming in line with expectations.
Both gross and Ebitda margin continued their strong performance sequentially, reporting improvement of 680 basis points and 470 bps YoY, respectively. While revenue remained flat YoY, higher margin and other income translated into a superior profit after tax growth of 49% YoY.
Bharat Electronics also highlighted deferral of Rs 5 billion worth of revenue on account of supply chain related issues.
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