Bharat Electronics rallies 5% post Q1 results, strong order book position

With the healthy order book at Rs 55,333 crore, strong pipeline of orders and better margin profile, BEL is well placed to grow its earnings in double digits in the next couple of years, analyst say.

Shares of Bharat Electronics (BEL) jumped 5 per cent to Rs 258.20 on the BSE in Monday’s intra-day trade after the company reported profit after tax (PAT) of Rs 431.49 crore in the June quarter (Q1FY23), due to higher revenue and on the back of lower base. The state-owned aerospace & defense company had posted PAT of Rs 11.15 crore in Q1FY22. As of July 1, 2022, the company’s order book position stood at Rs 55,333 crore.

The stock traded close to its 52-week high of Rs 259.50 touched on April 19, 2022. At 09:30 am, the stock quoted