Bharat Electronics Q3 Results: Net Profit Rises 53%, Beat Estimates

Bharat Electronics Ltd.'s third-quarter earnings beat estimates on all key metrics.

The net profit of the company increased 53% year-on-year to Rs 1,311 crore for the quarter-ended December, according to an exchange filing on Thursday. The consensus of analysts' estimates polled by Bloomberg had pegged the bottomline at Rs 942 crore.

Revenue from operations rose 38.7% to Rs 5,771 crore in the October-December period, as against Rs 4,162 crore over the same period last year. This was higher than the consensus estimate of Rs 5,023 crore, as per Bloomberg.

• Revenue up 38.7% to Rs 5,771 crore vs Rs 4,162 crore (Estimate: Rs 5,023 crore).

• Ebitda up 55.7% to Rs 1,670 crore versus Rs 1,073 crore (Estimate: Rs 1,158 crore).

• Margin at 28.9% versus 25.8 (Estimate: 23.10%).

• Net profit rose 53% to Rs 1,311 crore vs 856 crore (Estimate: Rs 942 crore).

Shares of Bharat Electronics were trading 2.3% higher when the results were announced, as compared to a 0.13% advance in the Nifty 50.

(This is a developing story).