Bharat Dynamics’ stock witnessed a slight downturn at the opening of trading on the NSE on April 2, following the manufacturer’s announcement of a 5.6% decrease in turnover. By 9:20 AM, the stock was trading at Rs 1,760.1.
In an exchange filing issued after market hours on April 1, Bharat Dynamics disclosed a turnover of Rs 2,350 crore for the fiscal year ending March 2024, reflecting a 5.6% decline from the previous year’s Rs 2,489.4 crore. The company attributed this decline to the ongoing geopolitical tensions in Europe and the Middle East, which have disrupted its supply chain. However, Bharat Dynamics also reported a robust order book of Rs 19,468 crore for FY2024.
During Q3, Bharat Dynamics posted a consolidated net profit of Rs 135 crore for the quarter ending December 2023, marking a 61% year-on-year increase from the previous fiscal’s Rs 84 crore. Consolidated revenue from operations surged 30% year-on-year to Rs 602 crore for the same period. Additionally, EBITDA for the reporting period rose by 32% to Rs 119 crore, compared to Rs 90 crore in the previous fiscal.
