State-owned heavy equipment maker BEML Ltd. witnesses more than 18% climb in fourth-quarter profit as easing input costs offset a drop in revenue.
The 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.
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.
About BEML
BEML is a diversified company supplying product, services and support to defence & aerospace, mining & construction, and rail & metro for clients within and outside India.
The government currently holds 54.03 per cent stake in BEML, which is a public sector undertaking under the defence ministry
