Navratna defence PSU Bharat Electronics Ltd (BEL) on Tuesday, February 21, signed a memorandum of understanding (MoU) with Aeronautical Development Agency (ADA) and DRDO for the Advanced Medium Combat Aircraft (AMCA) programme.
The MoU was announced on the sidelines of the 'Bandhan,' event held at Aero India 2023.
The AMCA is a fifth generation, multi-role, all-weather fighter aircraft designed with high survivability and stealth capability.
The MoU aims at leveraging the complementary strengths and capabilities of BEL and ADA, wherein both parties will cooperate for the design, development, qualification, production, and supply of internal weapon bay computer and other LRUs (line replaceable units) for AMCA and provide lifetime product support to the Indian Air Force.
The company reported a 36 percent year-on-year (YoY) jump in net profit at Rs Rs 1,641.31 crore for the third quarter that ended December 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 1,207.12 crore.
In the third quarter, the company's turnover stood at Rs 11,005.89 crore, reporting a growth of 24.46 percent over a turnover of Rs 8,842.98 crore it posted in the same quarter last year. BEL’s order book position as of January 1, 2023, was Rs 50,116 crore.
(Edited by : Shoma Bhattacharjee)
First Published: Feb 21, 2023 6:06 PM IST
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