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BEML Ltd net flat at Rs 58.7 crore in Q3

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BS Reporter Bangalore
Last Updated : Jan 19 2013 | 11:08 PM IST

BEML Limited, the defence ministry undertaking engaged in the manufacture of construction equipment and defence products, today reported that its net profit remained stagnant at Rs 58.74 crore for the third quarter ended December 31, 2008 compared to Rs 59.24 crore reported in the corresponding quarter last fiscal. Its net sales were marginally up by 1.7 per cent to Rs 632.8 crore during the quarter compared to the year ago period.

The company's topline growth would have been much lower but for the massive rise in its other income, which grew by 2.5 times to Rs 47.48 crore during the quarter as against the year ago period. The company has written back a little over Rs 9 crore from earlier provisions for various expenses.

The operating profit was also flat at Rs 89.71 crore compared to Rs 89.75 crore in the year ago period.

Out of Rs 526.7 crore raised through a public issue, the company has spent Rs 321.4 crore till end of December 2008 and the balance Rs 205.3 crore is invested in fixed deposit with scheduled commercial banks. The earning per share dropped to Rs 14.10 from Rs 14.23 in the corresponding quarter of last fiscal.

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First Published: Jan 30 2009 | 7:13 PM IST

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