BEML Achieves 10% Revenue Growth in Q1 FY25, reaches Rs 634 Crore

Bangalore:  BEML Ltd, India's leading indigenized heavy equipment manufacturer, has announced its financial results for the first quarter of FY25, ending June 2024. The company reported a 10% increase in revenue, reaching Rs 634 crore compared to Rs 577 crore in the same quarter of the previous financial year. The volume of production also saw a significant rise of 27%, amounting to Rs 689 crore in Q1 FY25, up from Rs 541 crore in the previous year.

The company's profit/(loss) after tax stood at Rs (70) crore, reflecting a reduction in loss by 6.17% compared to Rs (75) crore in the prior year. BEML Ltd continues to be a diversified company, providing products, services, and support across the defence and aerospace, mining and construction, and rail and metro sectors.

Read Also : BPCL signs loan deal with SBI-led consortium for petrochemical, refinery projects

Shri Shantanu Roy, CMD of BEML Ltd, commented, "Our numbers for this quarter show an improvement in revenue compared to the previous year, and our production volume indicates growth. This quarter, we also witnessed an all-time high stock price. We look forward to building sustained growth in all our business divisions, with significant expectations from the Rail and Metro business."

Read Also : Ashok Chandra and Binod Kumar appointed as MD and CEO of PNB, Indian Bank

During the quarter, BEML secured a major order from Northern Coal Fields Limited (NCL) for the supply of 28 units of BH100 Rear Dump Trucks, valued at INR 250 Crores. The BH100 Rear Dump Truck, capable of transporting payloads of up to 100 tonnes, is designed for the efficient handling of overburden and coal in mining operations. This order marks a significant milestone in BEML's ongoing partnership with NCL, underscoring the trust and reliance on BEML's heavy-duty mining equipment.

Read Also : U.S. Secretary of State Blinken Praises Egypt’s Role in Mediating Gaza Ceasefire and Hostage Deal