Bharat Electronics Q4 Results - Profits Up 30%

Get ready to uncover the latest scoop on Bharat Electronics' Q4 results! The impressive 30% profit surge, surpassing all estimates.

Business May 21, 2024 0 67 Add to Reading List

Bharat Electronics Q4 Results - Profits Up 30%

Decline in Delhivery Share Price and Company Developments

In the quarter ending March 2024, Bharat Electronics Ltd. saw a 30% rise in profit, reaching Rs 1,797 crore compared to the same period last year, according to a filing with the stock exchange on Sunday. Revenue also surged by 32% to Rs 8,564 crore during January-March, up from Rs 6,479 crore a year ago.

Delhivery Ltd witnessed a 11.92% drop in its share price to ₹383.90 compared to the previous day's close at ₹435.90. This decline followed the company's release of its Q4 results. Despite this, most brokerages maintained a positive outlook on the stock post earnings, even though Delhivery reported a loss of ₹68.5 crore for the quarter ending March 31, 2024—a 57% decrease from the loss of ₹159 crore in the same period last year. Additionally, the company announced the resignation of Sandeep Kumar Barasia, its Executive Director and Chief Business Officer, effective July 1.

The total market capitalization of Delhivery slipped below ₹30,000 crore as the stock fell. Analysts from various brokerages expressed different views on the stock. Kotak Institutional Equities labeled it as a 'buy' stock, citing solid performance in other areas despite a decrease in earnings.

Prabhudas Lilladher noted the growth in the company's PTL network and upgraded their rating to 'buy'. Conversely, Nuvama Institutional Equities maintained a 'hold' rating, emphasizing the need for improved profitability for the stock to gain momentum.