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BEL records marginal sales growth in 2011-12

Karnataka,Business/Economy,Defence/Security, Mon, 02 Apr 2012 IANS

Bangalore, April 2 (IANS) State-run Bharat Electronics Ltd (BEL) Monday reported a marginal growth of 3.3 percent in sales for the just concluded fiscal 2011-12, which is lower than the 5.9 percent growth it posted in previous fiscal (2010-11).


According to the provisional figures, turnover of the Bangalore-based defence enterprise for the fiscal under review (FY 2012) is Rs.5,710 crore (Rs.57.10 billion) as against Rs.5,530 crore in previous fiscal (FY 2011), registering 3.3 percent year-on-year (YoY) growth.


Profit before tax, however, declined to Rs.975 crore from Rs.1,161 crore year ago, registering a decline of 16 percent YoY.


Sales turnover is lower than the target of Rs.6,200 crore the company had set at the beginning of the fiscal.


Exports also declined to $38 million in 2011-12 from $42 million year ago (2010-11), during which it saw a jump of 75 percent over the previous fiscal (2009-10) at $24 million.


Defence purchases continue to account for about 80 percent of the company's sales, with the balance 20 percent from the civilian sector.


"During the fiscal, we have delivered to the defence services Akash weapon system, coastal surveillance system, central acquisition radar, (CAR-Rohini), communication sets & systems, night vision devices, ship-borne systems, ground-based electronic intelligence system, new generation sonars and jammers," the company said in a statement here.


To the civilian sector, the company provided services for the socio-economic and caste census and the national population register.


"We had also designed and developed a low-cost tablet personal computer (PC) in fur months and supplied 600,000 to the central ministry of rural development for the census exercise," the statement noted.


Other products rolled out during the fiscal include digital radio trunking system, integrated anti-submarine warfare system, electro opto fire control system, integrated radio line modem and remotely operated vehicle.


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