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BEL first quarter net profit drops

BANGALORE: Bharat Electronics Ltd (BEL) has reported a 56 per cent drop in its net profit at Rs. 26 crore for the quarter ended June 30, 2007. Total income for the quarter declined by 10 per cent to Rs. 470 crore. Increase in wages by 30 per cent on an average was one of the reasons for the drop, the company said in a release.

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