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.
BEML’s Q2 profit drops amid weakening demand

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

Railways
Texmaco Rail secures Rs 1,405 million wagon order from Indian Railways

Texmaco Rail secures Rs 1,405 million wagon order from Indian Railways

With this addition, Texmaco Rail & Engineering Ltd’s total order book now stands at Rs 71.15 billion, marking strong growth and sustained industry confidence.

Read more
Railways
Texmaco and Rail Vikas Nigam join forces to modernise India's rail infra

Texmaco and Rail Vikas Nigam join forces to modernise India's rail infra

Two companies plan to set up a state-of-the-art wheelset manufacturing unit to improve domestic supply chains and reduce import dependence.

Read more
Railways
Texmaco Rail eyes global growth after record FY25 in rail manufacturing

Texmaco Rail eyes global growth after record FY25 in rail manufacturing

With a Rs 70 billion order pipeline, the company is scaling operations in India and abroad. The upcoming Global Capability Centre in Faridabad and Texmaco Rail’s export-led focus will enhance its ..

Read more

Related Products

Ball Rail Systems

Railways

Jinisha Electrolites offers a wide assortment of ball rail systems

Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016