BEML logs 18% rise in Q4 profit as expenses dip

State-owned heavy equipment maker BEML Ltd on Friday reported a more than 18% climb in fourth-quarter profit as easing input costs offset a drop in revenue.

Consolidated profit rose to 1.58 billion rupees ($19.12 million) for the three months ended March 31, from 1.33 billion rupees a year earlier.

Also read: M&M Q4FY23 profit up 17.8% at Rs 2,636.67 crore; auto biz led the way with 62% growth

Also Read

Page Industries Q4 profit falls 58.9% at Rs 78.35 crore due to lesser consumption, revenue down 12.8%

Interview | ‘I simply want what my parents left for our family,’ says Sugandha Hiremath, non-executive director, Hikal

Vodafone Idea fund raise delay a concern: Vaishnaw

Global distressed funds go big on Indian realty

Net profit margin for the quarter expanded to 11.36% from 7.92% for the same quarter in the previous year.

BEML benefitted from softness in commodity prices and normalising supply chain as it saw a near-25% dip in costs of raw materials, pulling total expenses down by 23.7% to 11.29 billion rupees.

Meanwhile, consolidated revenue from operations decreased 17.6% to 13.88 billion rupees, hurt by a slowdown in realisation of projects.

Its board also declared a final dividend of 5 rupees per share.

Also read: Odisha to launch new portal for MSMEs to apply for financial incentives online

The company’s direct rival in the railway sector, Titagarh Wagon Ltd, swung to profit in the fourth quarter from a year-ago loss, while its revenue from operations more than doubled.

Shares of BEML rose as much as 3.5% in afternoon trade.