BEML surges on returning to profit in Q4

Shares of BEML were up nearly 8% at Rs 181 after the company reported robust earnings in the fourth quarter ended March 31, 2013 against a huge loss in the same quarter last year.

The company reported a profit of Rs 85.35 crore compared with a loss of Rs 63.34 crore in the corresponing fourth quarter last fiscal.

Sales for the quarter under review increased 66% to Rs 1,122 crore from Rs 676.52 crore in the fourth quarter last fiscal.

Further, the company announced that its board of directors has proposed a dividend of Rs 2.50 per equity share for the year 2012-13.

Over 850,000 shares were traded on both the stock exchanges so far.