BEML procured Rs 129.35 Crs through GeM portal in Q1 FY'23

New Delhi: BEML, an Indian Public Sector Undertaking that manufactures a variety of heavy equipment procured Rs. 129.35 Crs during quarter first for Current Financial Year 2022-23 through the Government e-Marketplace portal.

In FY 2021-22 the company reported procurement of goods & services worth Rs. 343.28 Crs against Rs. 106.36 Crs in FY 2020-21 which is 3 times more on a YoY basis. 

Further, BEML reported 15.4 per cent decline in consolidated net profit at Rs 133.42 crore for the quarter ended March 31, 2022. In the BSE filing, the company mentioned the profit of Rs 157.81 crore in the year-ago period.

The 1964 established company manufactures variety of heavy equipment, such as that used for earth moving, transport and mining. BEML has recently introduced road headers and slide discharge Loaders for underground mining applications.