BEML's net profit rose 14.84% to Rs 186.33 crore on 22.07% decline in revenue from operations to Rs 1,066.42 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax (PBT) tumbled 38.17% to Rs 142.01 crore in Q4 FY20 over Q4 FY19. The company received tax write back of Rs 44.32 crore in Q4 FY20 compared with tax expense of Rs 67.47 crore in Q4 FY19. The Q4 result was declared on Saturday, 27 June 2020.
"The spread of COVID-19 Pandemic and subsequent lockdown in the last week of March 2020, has impacted the company's turnover and production due to the closure of company's manufacturing facilities, disruption in spares & service business, non receipt of materials due to global Covid impact even before the lockdown in the country on account of supply chain disruptions, restrictive movements/non-availability of required trailers etc, the impact of which could not be quantified," the company said in a statement.
The board has recommended a final dividend of Rs 3.50 per equity share for the year ended 31 March 2020.
State-run BEML operates in three verticals viz. defence & aerospace, mining & construction and rail & metro. As on 31 March 2020, the Government of India held 54.03% stake in the company.
Shares of BEML fell 3.35% to Rs 624 on BSE. The scrip traded in the range of Rs 616.80 to Rs 634.70 so far.
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