Bharat Electronics spurts 5% on Q3 numbers, stock split

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NEW DELHI: Shares of Bharat ElectronicsBSE 3.35 % shot up 5 per cent in Monday’s trade to hit a one-year high, thanks to upbeat quarterly earnings and the company’s announcement of stock split.

The company has reported a 33 per cent YoY rise in net profit at Rs 373.54 crore for the December quarter. This was made on a 37 per cent growth in its revenue at Rs 2,191.30 crore during the same period.

The company said its operating profit expanded to 22 per cent for the quarter, compared with 17.3 per cent in the same quarter last year.

The results were announced post market hours of Friday.

Following the announcement, the stock surged 5.45 per cent to hit a 52-week high of Rs 1,624.30 on BSE.

The stock had hit a 52-week low of Rs 1,009 on March 1 last year. The company, meanwhile, declared an interim dividend of Rs 3 per equity share, besides announcing sub-division of existing one equity share of Rs10 (face value) each into 10 equity shares with face value of Re 1 each.