Bharat Dynamics slips after weak Q3 performance; board OKs interim dividend of Rs 8.15/share

Bharat Dynamics declined 3.59% to Rs 874.50 after the company reported 61% drop in net profit to Rs 83.74 crore in Q3 FY23 from Rs 213.26 crore in Q3 FY22.

Total revenue from operations amounted to Rs 461.55 crore during the quarter, down 43% YoY.

Total expenses at Rs 392.09 crore, were lower by 27% in Q3 FY23 as compared with Q3 FY22.

Profit before tax in Q3 FY23 stood at Rs 105.92 crore, down by 65% from Rs 298.54 crore in Q3 FY22.

The company's board has declared interim dividend of Rs 8.15 per share for the financial year 2022-23. The company has fixed 20 February 2023 as the "record date for the purpose of payment of interim dividend on equity shares for the financial year 2022-23.

"Due to the ongoing Russia-Ukraine war, there are delays in receipt of certain electronic components which has impacted the performance during the period and the company is exploring alternatives to mitigate the impact," Bharat Dynamics said in a statement.

Bharat Dynamics is engaged in the manufacturing of Missiles and allied Defence Equipments. The Company provides majority of its goods and services to the Indian Armed forces and Government of India.

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