Schedule a Call Back
BEML’s Q2 profit drops amid weakening demand
Industry News- Nov 12,24
BEML’s material costs, which constitute over half of its expenses, rose slightly by 0.2%, while total expenses dropped 7% to Rs 8.2 billion.
Indian heavy machinery manufacturer BEML reported a 1.5% drop in second-quarter profit due to lower demand for its products as manufacturing activity in India slowed. The state-owned company, which supplies equipment for sectors including aerospace, mining, and rail, saw its profit slip to Rs 510.3 million for the quarter ending September 30, down from Rs 517.8 million the previous year. Revenue from operations declined by 6.2% to Rs 8.6 billion, marking the first fall after four consecutive quarters of growth.
BEML’s material costs, which constitute over half of its expenses, rose slightly by 0.2%, while total expenses dropped 7% to Rs 8.2 billion. The company also executed orders worth Rs 8.11 billion, down from Rs 9.10 billion in the same quarter last year.
The dip in BEML’s performance contrasts with competitor Jupiter Wagons, which recorded a 9.3% profit increase in the same period. Following the earnings release, BEML shares were down 0.6%, though they have risen 47.5% this year, slightly behind Jupiter Wagons’ 47.8% increase.
(The Print)
Related Stories
Aerospace Defence
Make in India incentivising entrepreneurs: Agnishwar Jayaprakash
Sustainability also extends to the way India handles its raw materials. For instance, India’s mining industry plays a vital role in supplying essential resources to manufacturing, but it is also u..
Read moreRailways
FFG to supply 1.54 million railway wheels to India’s RKTR
The production line is expected to start operations in Q1 2026 and will deliver railway wheels to Indian Railways over the next 20 years.
Read moreRailways
Titagarh Rail Systems secures order from Adani Cement for 16 rakes of wagons
The BCFCM and BVCM wagons are designed to optimise the passage of fly ash and cement, ensuring faster and more cost-effective movement of these essential materials.
Read moreRelated Products
Ball Rail Systems
Railways
Jinisha Electrolites offers a wide assortment of ball rail systems
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
