BEML Q2 net up 26%

Engineering giant Bharat Earth Movers(BEML) has registered 25.75% rise in its net profit at Rs 36.57 crore during the second quarter ended September 30, 2006. Its sales turnover went up 68.05% to Rs 643.97 crore during the quarter.

The board of directors of the company, which met here today, said in a release that the new restructuring implemented at the company during the last six months, helped it improve performance. BEML is also poised to notch a total turnover of Rs 2,600 crore for the current year including exports of Rs 100 crore. The company's current order book position stands at Rs 2,216 crore.

The company reported a higher net profit of Rs 51.58 crore for the first half of FY07, a growth of 24.31% over the corresponding period of previous fiscal. The company reported a sales turnover of Rs 1,013.56 crore during the first half ending September 30, 2006 as against Rs 786.39 crore reported in the same period of last fiscal, a growth of 28.89%.