BEML reported 62.9 % growth in net profit

(20 second reading) BEML reported 62.9 per cent growth in net profit at Rs 256.8 crore for the quarter ended March 2024, led by healthy operating numbers. Its revenue from operations grew by 9 percent YoY to Rs 1,513.7 crore.The company’s EBITDA surged 29.2 percent to Rs 370.4 crore, with an improvement in margins to 24.5 percent from 20.7 percent on YoY basis.
BEML is a public sector undertaking under the MoD, which serves sectors like defence, power and infrastructure. For FY24, BEML’s net profit rose 78.46 percent YoY to Rs 281.77 crore as against Rs 157.89 crore during the previous fiscal ended March 2023. The PSU firm’s sales rose 3.98 percent year-on-year to to Rs 4,054.32 crore as against Rs 3,898.95 crore in the year-ago period.