Bharat Electronics posted its earnings for the quarter ended June on Monday afternoon. BEL’s share price rocketed after the results came out.

What Happened: The defence major’s consolidated net profit for the June quarter stood at ₹791 crore, up 47% from the ₹538 crore posted in the same quarter last year. Revenue from operations went 20% to ₹4,243 crore, compared with the ₹3,532 crore posted in the corresponding quarter of the previous.

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Analysts at Antique Broking projected BEL's revenue to increase by around 13% year-on-year to ₹3,967.2 crore, with net profit estimated to rise by 22% to ₹647.3 crore. Similarly, Nirmal Bang estimates BEL's revenue for the quarter to be ₹3,908.9 crore and net profit to be ₹677.6 crore. The order book position of the company as on July 1, stood at ₹76,705 cr

Shares of the defence major shot up sharply as soon as the results came out.

The June quarter has traditionally been weaker for the public sector firm, amounting to around 15%-20% of the total annual sales.

Price Action: BEL’s share price was up 5.02% to trade at ₹325.45 on Monday.

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