Wednesday, 27 January 2016

Bharat Electronics Q3 Profit Up 9%, Revenue Misses Estimates

State-owned aerospace and defence company Bharat Electronics   reported mixed set of earnings in third quarter of FY16. Profit matched analysts' estimates, rising 8.8 percent year-on-year to Rs 296 crore during the quarter supported by other income, but revenue missed expectations. Total income from operations declined 5.7 percent to Rs 1,517.2 crore in Q3 compared to Rs 1,608.2 crore in corresponding quarter of last fiscal, the company said in its filing, adding other income grew by 19.4 percent to Rs 135.5 crore from Rs 113.5 crore in same period.

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