Bharat Dynamics Ltd.'s third-quarter earnings missed estimate on all fronts.
Standalone net profit rose 9% to Rs 147 crore in the October-December quarter, compared to Rs 135 crore in the year-ago period. Analysts' consensus estimate compiled by Bloomberg projected a bottomline of Rs 187 crore.
Revenue from operations increased 38.3% to Rs 832 crore versus Rs 602 crore last year. However, it missed estimate of Rs 952 crore.
On the operating side, earnings before interest, tax, depreciation and amortisation rose nearly 7% to Rs 127 crore, missing the projection of Rs 244 crore.
The Ebitda margin contracted from 19.7% to 15.3%, due to a rise in material cost.
The board declared an interim dividend of Rs 4 per share. The company has fixed Feb. 14 as the record date to determine the eligibility of shareholders.
Bharat Dynamics Share Price Movement
Shares of Bharat Dynamics swung between gains and losses during early trading hours. It was trading 0.74% lower at Rs 1,206 apiece as of 11:45 a.m., compared to a 0.4% decline in the benchmark Nifty 50.
The stock has risen 37% in the last 12 months. The relative strength index was at 37.
Out of nine analysts tracking the company, six maintain a 'buy' rating, two recommend a 'hold' and one suggests 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target of Rs 1,312 implies an upside of 8.3%.
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