BEML reports net loss of Rs 62 crore in Q2

Bangalore-based public sector defence company BEML Limited has reported a net loss of Rs 62.44 crore for the second quarter ended September 30, 2012 as compared to a net profit of Rs 15.30 crore in the corresponding quarter last year.

Sequentially, compared to the first quarter, the net loss has widened by 58% compared to a loss of Rs 39.44 crore.

The total income from operations declined 26% to Rs 587 crore in the second quarter as against Rs 794 crore in the year ago period.

The company also reported an operating loss for the quarter at Rs 49 crore as against an operating profit of Rs 24.31 crore in the year ago period.