This Multibagger PSU Declared 70% Interim Dividend For FY24, Net Profit Surged 50% YoY, Do You Own?

Bharat Electronics Ltd, a Public Sector Undertaking (PSU) in the aerospace and defence electronics sector, has reported robust financial performance for the third quarter of the current fiscal year. The multi-bagger defence PSU revealed a 49.2% Year-on-Year (YoY) jump in net profit, reaching Rs 893.3 crore compared to Rs 598.8 crore in the same quarter last year.

In a statement released on Monday, Bharat Electronics disclosed a net profit of Rs 859.6 crore for Q3 FY 2023-24, marking a 40% increase from the previous year's Rs 613 crore. The company's revenue was slightly up at Rs 4,162.2 crore, compared to Rs 4,153 crore in the corresponding period last year.

The earnings before interest, taxes, depreciation, and amortization (EBITDA) of the company witnessed a significant surge, rising by 24% to Rs 1,072.6 crore during October to December 2023, compared to Rs 863.4 crore in the same quarter of the previous fiscal year. The EBITDA margin stood at 26%.

The order book position for Bharat Electronics as of January 1, 2024, was reported at Rs 76,217 crore.

Bharat Electronics provided details about the interim dividend for the fiscal year 2023-24. The company announced a dividend payout of Rs 0.70 per equity share, constituting 70% of the paid-up value.

To determine the eligibility for the dividend payout, Bharat Electronics has fixed February 10, 2024, as the record date. Shareholders appearing on the company's records on this date will be entitled to the interim dividend. The payment of the interim dividend is scheduled to be completed within 30 days from the date of declaration.

Bharat Electronics shares concluded Monday's trading session on a high note, closing at ₹191.60 per share on the NSE with gains of 1%. The stock's upward trajectory over the past year has rewarded investors with returns exceeding 101%.

With the interim dividend announcement, Bharat Electronics not only rewards its existing shareholders but also attracts the attention of prospective investors looking for stable returns and a strong dividend payout.