BEL records highest ever turnover of Rs 3,561 crore
Bangalore, Apr 17 (UNI) Premier Defence Public Sector Unit Bharat Electronics Limited (BEL) has recorded the highest ever turnover of Rs 3,561 crore for 2005-06, an 11 per cent increase from its last year's turnover of Rs 3,212 crore.
Briefing newspersons about the results here today, BEL Chairman and Managing Director Y Gopal Rao said the provisional profit after tax increased by 30 per cent at Rs 581 crore as against Rs 446 crore during last year. Of the total turnover, the supplies to the defence segment amounted to Rs 3,000 crore compared to Rs 2,800 crore in the previous year. For the civil segment, the value of supplies stood at about Rs 500 crore this year as against Rs 400 crore last year, an increase of 25 per cent.
Stating that all the nine units of BEL continued to make profit, he said the company's aim was to achieve a turnover of Rs 5,000 crore by 2007-08 and cross Rs 10,000 crore by 2011-12 by leveraging on many opportunities like offsets and local manufacturing content.
Mr Rao said the company recorded exports of US Dollars 13.58 million during the year as against 12.50 million Dollars last year.
Precision Electro Mechanical subsystems and parts to General Electric Medical Systems and 'build to print' contract manufacture of satellite radios for the US market formed a major part of exports. The company hoped to cross an export target of US Dollars 24 million this year.
Replying to queries, he said the company had rolled out more than 15 new products such as Combat Net Radio for the Indian Army, an ATM based Integrated Ship-borne Data Network for the Navy, Surveillance Radar Element for the Air Force and EDUSAT equipment for the ISRO.
Besides, a large number of Night Vision Devices and High Frequency Communication sets were also supplied to the Army, he added.
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