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
Electrical & Electronics
Servotech bags 4.1 MW on-grid rooftop solar order from East Coast Railway
Under the scope of this contract, Servotech will undertake the design, manufacturing, supply, installation, testing, and commissioning of rooftop on-grid Solar Photovoltaic (PV) plants of varying ca..
Read moreAerospace Defence
IIM Bangalore and TBS Education host panel on future of aviation and aerospace
The agenda encompassed India’s increasing role in global supply chains, the potential of Make in India manufacturing, and emerging innovations such as EVtol, drones, and AI-powered aviation system..
Read moreConstruction Equipment
Hindustan Zinc has women take on night shifts in mining operations
Hindustan Zinc has achieved a gender diversity ratio of 25%, one of the highest in metals, mining and heavy engineering industries
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
