BEL FY2015 net profit up 25%

Backed by exports and indigenisation efforts, Navaratna PSU Bharat Electronics (BEL) reported a profit after tax of Rs 1,167 crore for fiscal ending March 31, 2015, compared with Rs 932 crore in the same period last year, registering a growth of 25.2 per cent.

Announcing the results at a press conference on Wednesday, BEL chairman and managing director (CMD) S K Sharma  said indigenisation would be its main focus to achieve the growth target in the defence segment.

“Indigenisation, backed by capacity building and thrust on civilian segment, will give the growth momentum for the company. We find  business opportunities in the fields of homeland security, smart cards, solar, and telecom,” he said.

The  total turnover reached Rs 6,695 crore for the fiscal ending March, 2015, compared with Rs 6,174 crore in  the same period last fiscal, a growth of 8 per cent. But the company’s order book suffered a decline of 7.8 per cent at Rs 21,600 crore for the fiscal as against Rs 23,452 crore in 2013-2014.

Adhering to the ‘Make in India’ campaign, he said the company will nurture its partners by solidly investing in research and development (R&D) activities. “We have played a pivotal role in the  execution of projects like Akash weapon system, passive night vision devices, 3-D tactical control radar, missile warning system, Schilka gun tank upgrade, laser range finder and shipborne EW system (Sanket) to Navy in the current fiscal,” he said.

DH News Service