The June quarter net profit of state-run defence giant Bharat Dynamics Ltd. dropped more than 80% as compared to the same period the previous year, bringing the company’s shares down nearly 15% on Monday.
Compared to the ₹42 crore it recorded last year, Bharat Dynamics reported a net profit for the June quarter of ₹7.2 crore, an 83% decrease.
Its ₹52.3 crore loss for Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) was more than the ₹32.6 crore loss it had in the same quarter of the previous year.
Furthermore, Bharat Dynamics reported that it did not secure any significant orders in the June quarter. The company further stated that the ongoing conflict in the Middle East and Russia-Ukraine affect the supply chain, delaying in receipt of key components and affecting the company’s performance in the quarter.
As of 10:01 am, Bharat Dynamics shares were trading 8.80% lower at Rs 1,307.80 on the NSE.
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