The Hindu : Business : BEL posts 30 p.c. rise in profit

Online edition of India's National Newspaper
Tuesday, Apr 18, 2006

Business

Business

BEL posts 30 p.c. rise in profit

Staff Reporter

BANGALORE: Defence undertaking Bharat Electronics Limited (BEL) reported its highest-ever turnover of Rs. 3,561 crore for 2005-06, posting a net profit of Rs. 581 crore, a robust 30 per cent rise over the previous year.

The Chairman and Managing Director, Y. Gopala Rao, told media persons that the Bangalore-based public sector undertaking had recorded a turnover of Rs. 3,212 crore during 2004-05 with the profit after tax at Rs. 446 crore.

Defence supplies continued to be the main strong suit accounting for about Rs. 3,000 crore in turnover as against Rs. 2,800 crore. The civilian business value was reported at Rs. 500 crore.

"We do not want to depend only on defence as security needs keep changing. We need to do the balancing act with civilian business," Mr. Rao said, adding that the target was to ensure that 20-25 per cent of business was in civilian area.

BEL, Mr. Rao said, aimed at reaching a turnover of Rs. 5,000 crore by 2007-08 and Rs. 10,000 crore by 2011-12. He said BEL achieved exports of $13.58 million during the year under review against $12.50 million, a rise of nine per cent. For the current year, the company has set the export target at $24 million.

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