Bharat Dynamics Surges 15% On Declaring Strong Q4 Results

On Tuesday, shares of Bharat Dynamics opened 15 percent higher to touch an intraday high of Rs 349 on BSE on the back of strong Q4 performance. On Monday, after market hours, the manufacturer of defence equipment reported a 149.5 percent jump in its net profit to Rs 309.72 crore for the March ended quarter, on the back of a 57.17 percent rise in total income to Rs 1,467.75 crore.

The company's board proposed a dividend of Rs 2.55 per share for the year ended 31 March 2020.

Bharat Dynamics said that while the COVID-19 pandemic is globally inflicting high economic and human costs causing slow down of economic activity, it did not have any significant impact on the sales and operations of the company for the financial year 2019-20.

The company offers ammunitions, counter measures dispensing, infra red interference indicators, and missile systems to military and aerospace industries in India.