Bharat Dynamics ends 5% higher after winning $255 million export order
At the Aero India 2023 airshow held last week in Bengaluru, Bharat Dynamics entered into ten Memorandums of Understanding (MoU) with multiple Indian as well as foreign companies, while showcasing its largest-ever display of products.
Shares of Bharat Dynamics Ltd. jumped over 5 percent in intraday trade on Monday after the company announced its latest order win worth approximately Rs 2,108.12 crore.
In a filing to stock exchanges, the state-owned company said that it has received an export order worth $255 million (approximately Rs 2,108.12 crore). The said order shall be executed subject to clearances from the Indian Government.
The new order is a major addition to Bharat Dynamics' total gross order which stood at Rs 13,140 crore as on November 30, 2022.
At the Aero India 2023 airshow held last week in Bengaluru, Bharat Dynamics entered into ten Memorandums of Understanding (MoU) with multiple Indian as well as foreign companies, while showcasing its largest-ever display of products.
The company also launched the vertically-launched short-range surface-to-air missile as well as the semi-active laser seeker-based anti-tank guided missile at the Aero India 2023.
In the December quarter, Bharat Dynamics’ net profit declined by 60.73 percent to Rs 83.74 crore from Rs 213.26 crore in the same period last year, while net sales fell 42.59 percent to Rs 461.55 crore from Rs 803.91 crore in the year-ago period.
The company’s EBITDA of Rs 125.36 crore was 61.33 percent lower than Rs 324.18 crore in the same period last year.
Shares of Bharat Dynamics ended 4.64 percent higher at Rs 913.20 on Monday.
(Edited by : Rukmani Krishna)
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