BEL pays Rs 232 crore final dividend to government

Sarkaritel
By Sarkaritel October 25, 2019 06:45

BEL pays Rs 232 crore final dividend to government

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Bengaluru, Oct 25  State-run defence major Bharat Electronics Ltd (BEL) on Thursday said it has paid 170 per cent final dividend or Rs 232 crore to the government for fiscal 2018-19.

“With 170 per cent interim dividend payout in February-March, we have paid 340 per cent total dividend to the government,” said the city-based company in a statement here.

The Central government is the majority shareholder in BEL with 55.93 per cent equity holding.

BEL chairman M.V. Gowtama gave the dividend cheque to Defence Minister Rajnath Singh in New Delhi earlier in the day.

The company, however, did not mention the amount for the 170 per cent interim dividend payout it made in three tranches of 70 per cent twice and 30 per cent once.

For fiscal under review (2018-19), revenue was Rs 11,789 crore, up 17 per cent year-on-year (YoY) and net profit Rs 1,927 crore, up 38 per cent YoY.

Sarkaritel
By Sarkaritel October 25, 2019 06:45