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.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : New CVO Nilabhra Sengupta takes charge at BEL

The 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 : NPCI Launches ‘RuPay On-The-Go’ Campaign to Promote Efficient and Seamless Transit Across India