BEML Q3 Results: Net profit falls 50% to Rs 24.4 crore, margins improved by 7%
The company's board has also approved an interim dividend of Rs 5 per share post earnings.
BEML Q3 Results Net profit falls 50 to Rs 24.4 crore, margins improved by 7
Following the release of its December quarter results, which were unimpressive even though decreased expenses helped the company's operating performance, shares of the state-run Bharat Earth Movers Ltd. (BEML) plummeted on Thursday, February 6. At Rs 24.4 crore, BEML's net profit almost halved from the same quarter the previous year.
In the same quarter last year, it reported a profit of Rs 48.2 crore. In addition, revenue for the quarter decreased by 16.3% to Rs 876 crore, compared to Rs 1,047 crore in the base period.
BEML's Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) for the quarter increased by 8% from the year-ago period to Rs 60.6 crore, while margins expanded to 7%, a 160 basis points growth from 5.4% last year.
The company's board has also approved an interim dividend of Rs 5 per share post earnings.
Shares of BEML are currently trading 2.1% lower at Rs 3,315.
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