Bharat Electronics Ltd. (BEL) reported a 19.8% year-on-year increase in consolidated net profit for the September quarter of FY27, beating analyst estimates, as the defence public sector undertaking (PSU) continued to register strong revenue growth.
The company's net profit rose to Rs 1,541 crore in the second quarter, compared with Rs 1,286 crore in the corresponding period last year. The figure was higher than the Bloomberg consensus estimate of Rs 1,345 crore.
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Revenue from operations climbed 26.5% year-on-year to Rs 7,291 crore in the July-September quarter, against Rs 5,764 crore a year ago. The revenue figure also surpassed the estimated Rs 6,528 crore.
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Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 20.3% to Rs 2,040 crore from Rs 1,696 crore in the year-ago period. This was ahead of the market estimate of Rs 1,791 crore.
However, the company's operating profitability moderated during the quarter. EBITDA margin contracted to 28% from 29.4% in the corresponding quarter last year, although it remained above the estimated 27.4%.
The results indicate that while BEL delivered growth across its key financial parameters, its operating margin faced some pressure compared with the year-ago period.
For the first six months of FY27, BEL reported revenue from operations of Rs 12,824 crore, registering a growth of 25.97% over Rs 10,180 crore recorded in the corresponding period of the previous financial year, according to the company's press release.
Profit before tax (PBT) for the first half increased 14.65% to Rs 3,467 crore, compared with Rs 3,024 crore in the year-ago period.
Profit after tax (PAT) rose 14.81% to Rs 2,589 crore against Rs 2,255 crore in the first half of FY26.
The company's second-quarter PBT stood at Rs 2,064 crore, compared with Rs 1,734 crore in the corresponding period last year. BEL's order book stood at Rs 68,717 crore as of October 1, 2026, providing visibility on its execution pipeline.
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The company, a Navratna defence PSU under the Ministry of Defence, operates in the defence electronics segment and caters to the country's strategic requirements.
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