Navratna defence PSU Bharat Electronics Ltd (BEL) on Thursday reported a 23 percent year-on-year (YoY) jump in net profit at Rs 530.8 crore for the first quarter that ended June 30, 2023.

In the corresponding quarter last year, Bharat Electronics posted a net profit of Rs 431.5 crore, the company said in a regulatory filing.

In the first quarter, the total revenue stood at Rs 3,510.8, up 12.8 percent as against Rs 3,112.8 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 29.4 percent to Rs 664.4 crore, from Rs 512.5 crore in the corresponding period in the previous fiscal.

The EBITDA margin stood at 18.9 percent in the reporting quarter compared to 16.5 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The Profit Before Tax (PBT) during the first quarter of FY24 stood at Rs 703.75 crore, registering a growth of 21.73 percent over the PBT of Rs 578.10 crore recorded in the corresponding period of the previous year. The company's order book position as of July 1, 2023, stood at Rs 65,356 crore.

The results came after the close of the market hours. Shares of Bharat Electronics Ltd ended at Rs 127.25, up by Rs 1.30, or 1.03 percent on the BSE.