BEML Ltd Q2, shares down by 2.3%, net profit fell to Rs 51.03 crore
BEML executed orders worth Rs 811 crore during the quarter, compared with Rs 910 crore a year earlier.
BEML Ltd Q2, shares down by 2.3, net profit fell to Rs 51.03 crore
Miniratna firm, BEML reported a 1.5% fall in its second-quarter profit, dipped by lower demand for its heavy machinery and equipment as manufacturing activity declined. BEML's consolidated profit fell to Rs 51.03 crore ($6.1 million) in the quarter ended Sept. 30, compared to Rs 51.78 crore a year earlier.
The company's revenue from operations fell 6.2% to Rs 860 crore, after four quarters of rise. The cost of materials consumed, which makes up more than half of the total expenses, grew 0.2% in the quarter, while total expenses fell by 7% to Rs 820 crore.
BEML executed orders worth Rs 811 crore during the quarter, compared with Rs 910 crore a year earlier.
Read Also : How the Revolutionary Aviator Game Website is Changing the Online Gambling SceneThe Miniratna firm, reported a 0.75% year-on-year (YoY) fall in profit after tax (PAT) to Rs 51.03 Crore for the second quarter ended September 30, 2024. Meanwhile, overall income increased to Rs 14.86 Crore for the second quarter ended September 30, 2024, up from Rs 72.20 Crore as of previous year, while expenses fell to Rs 819.96 million, down from Rs 881.83 Crore the previous year.
The state-owned company makes machinery and products for industries like aerospace, mining, rail, and metro and has clients such as Rail Vikas Nigam, Adani Power, and Chennai Metro Rail. India's manufacturing activity growth eased in the last two months of the September quarter as demand softened, according to a survey.
Read Also : Northern Railway sets record with Kavach installation on 100 locomotivesNews Must Read
- Possible Collaboration between NLC India and Kerala State Electricity Board
- BEML wins BH60 Rear Dump Trucks worth of Rs 247 crore
- Navaratna PSU stock: Railtel bags order worth Rs 9.93 crore, shares rises above 1.4%
- PSU Honor: Power Ministry awarded First Prize to SJVN
- NLC India Limited Contributes Rs. 1 Crore to Kerala Disaster Mitigation Fund
- THDC India Achieves Major Milestone
- RITES signs MoU with NISE for assuring quality in Green Energy
- DMRC, NCRTC Launches Integrated QR-Ticketing System Enabling Seamless Travel
- K Sanjay Murthy appointed new Comptroller and Auditor General of India
- NHPC Director Reviews Progress of 2000 MW Subansiri Lower HE Project