Bharat Dynamics Q2 Results: Profit Jumps 94%, Beats Estimates

The company's second quarter net profit rose to Rs 147 crore, beating a Bloomberg estimate of Rs 91.7 crore.

Saloni Doshi

03 Nov 2023, 02:57 PM IST

<div class="paragraphs"><p>Akash a medium-range mobile surface-to-air missile system developed by the DRDO and produced by Bharat Dynamics at Defence Expo. (Source: Vijay Sartape /BQ Prime)</p></div>

Akash a medium-range mobile surface-to-air missile system developed by the DRDO and produced by Bharat Dynamics at Defence Expo. (Source: Vijay Sartape /BQ Prime)

Bharat Dynamics Ltd.'s net profit increased 94.1% in the second quarter of fiscal 2024, beating analysts' estimates.

The defence manufacturer reported a profit of Rs 147 crore in the quarter ended September, in comparison with Rs 75.8 crore over the same period last year, according to an exchange filing on Friday. That compares with the Rs 91.7 crore profit estimated by analysts tracked by Bloomberg.

Bharat Dynamics Q2 FY24 Highlights (Standalone, YoY)

Revenue up 15.2% at Rs 616 crore vs Rs 535 crore (Bloomberg estimate: Rs 519.97 crore).
Ebitda up 42.8% at Rs 134 crore vs Rs 94 crore (Bloomberg estimate: Rs 79 crore).
Margin at 21.76% vs 17.54% (Bloomberg estimate: 15.20%).
Reported profit up 94.1% at Rs 147 crore vs Rs 76 crore (Bloomberg estimate: Rs 91.7 crore).