Business

BEL turnover up

By Our Staff Reporter

BANGALORE APRIL 29. Bharat Electronics (BEL) recorded a 13 per cent increase in turnover at Rs.1,939 crores for the year ended March 31, 2002. BEL's profit before tax was Rs. 283 crores, a 28.6 per cent rise over the previous year's Rs. 220 crores. All the nine units of the company have shown profits. However due to low offtake of semiconductor devices by European customers and shifting of some customers' priorities, the export target fell short by 25 per cent.

The value of order book as on April 1, 2002 is Rs. 4,100 crores which includes letters of intent from customers with financial commitment. This is the highest ever order level achieved by BEL.

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