Business
BEL sees 9% turnover growth despite Covid challenge, profit Rs 2,349 cr

Bengaluru, May 25
Bharat Electronics Ltd (BEL), the government-owned aerospace and defense electronics company, on Wednesday said it has registered a turnover growth of 9 per cent over the previous year, in spite of challenges due to Covid-19 pandemic, global chip shortage and stiff competition.
The defence public sector unit registered a turnover of Rs 15,044 crore in 2021-22 against Rs 13,818 crore in 2020-21, and Rs 2,349 crore profit after tax for this year against Rs 2,065 crore in the previous year.
It also said that it logged export turnover of $33.30 million and achieved market capitalisation of Rs 60,000 crore.
The BEL also said that its Armoured Engineer Reconnaissance Vehicle has been inducted into the Indian Army, and the first prototype of indigenously developed Universal Driver Training Simulator for Rolling Stock (i-UDTS) has been inaugurated by Secretary, Housing and Urban Affairs.
Turnover from indigenous technology is 78 per cent, the BEL statement said.
It also said that some of the major orders executed during the year include Long Range Surface to Air Missile, Akash Weapon System, Fire Control System, Integrated Air Command and Control System, Advanced Composite Communication System, Integrated Electronic Warfare Suite, and Coastal Surveillance System.
BEL Chairman and Managing Director Anandi Ramalingam, Director, Other Units, Bhanu Prakash Srivastava, Director, Finance and CFO, Dinesh Kumar Batra, Director, Bengaluru Complex, Vinay Kumar Katyal, and Director, R&D, M.V. Raja Sekhar were present during the annual press conference held in this connection.

1 hour ago
Baahubali producer Shobu Yarlagadda recalls tension he experienced prior to film's release!

1 hour ago
Malayalam actors Shine Tom Chacko, Vincy Aloshious reconcile after misbehaviour row

1 hour ago
Hindi-Marathi conflict: Udit Narayan says one has to respect all languages

1 hour ago
Actor Unni Mukundan's Instagram account hacked!

1 hour ago
Karan Johar: ‘Kyunki Saas Bhi Kabhi Bahu Thi’ changed the face of Indian television

1 hour ago
Shilpa Shetty Kundra reveals the novelty behind new season of ‘Super Dancer’

1 hour ago
Saiyami Kher: I’ve never thrived on external validation

1 hour ago
Jackie Shroff celebrates 36 years of action thriller ‘Tridev’

1 hour ago
It would be a dream come true to work with Suriya someday, says Love Marriage actress Meenakshi Dinesh

1 hour ago
Kajol talks about the evolution of ‘Bollywood Maa’: They were always strong for us

1 hour ago
India continues to outperform most of other economies: HSBC Mutual Fund’s Kailash Kulkarni

1 hour ago
BMW Group India appoints Hardeep Singh Brar as President, CEO

1 hour ago
Samsung estimates 56 pc drop in Q2 operating profit on chip slump, US trade policies