Business Standard

BEML profit grows 18% YoY to Rs 158 cr in Jan-Mar quarter as expenses dip

Consolidated profit rose to 1.58 billion rupees ($19.12 million) for the three months ended March 31, from 1.33 billion rupees a year earlier

The combined net profit of 20 cyclical companies in the index is expected to grow by 38.8 per cent YoY to Rs 1.01 trillion

Reuters

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State-owned heavy equipment maker BEML Ltd on Friday reported a more than 18% climb in fourth-quarter profit as easing input costs offset a drop in revenue.
 
Consolidated profit rose to Rs 158 crore ($19.12 million) for the three months ended March 31, from Rs 133 crore a year earlier.
 
Net profit margin for the quarter expanded to 11.36% from 7.92% for the same quarter in the previous year.
 
BEML benefitted from softness in commodity prices and normalising supply chain as it saw a near-25% dip in costs of raw materials, pulling total expenses down by 23.7% to Rs 1,129 crore.
 
Meanwhile, consolidated revenue from operations decreased 17.6% to Rs 1,388 crore, hurt by a slowdown in realisation of projects.
 
Its board also declared a final dividend of 5 rupees per share.
 
The company's direct rival in the railway sector, Titagarh Wagon Ltd, swung to profit in the fourth quarter from a year-ago loss, while its revenue from operations more than doubled.
 
Shares of BEML rose as much as 3.5% in afternoon trade.
 
($1 = 82.6480 Indian rupees)
(Reporting by Priya Sagar in Bengaluru; Editing by Sohini Goswami)

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First Published: May 26 2023 | 4:27 PM IST

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