BEML rose 1.28% to Rs 1,553.05 after the PSU company's consolidated net profit jumped 52.53% to Rs 16.26 crore in Q2 FY23 from Rs 10.66 crore in Q2 FY22.
Revenue from operations declined 19.5% year on year to Rs 804.86 crore in the quarter ended 30 September 2022.Total expenses declined 21.25% YoY to Rs 789.84 crore in Q2 FY23. Cost of raw material consumed was at Rs 587.60 crore (up 13.1%YoY) while finance cost stood at Rs 10.77 crore (down 13.90% YoY).
The PSU company's order book as of 30 September 2022 stood at Rs 8,804 crore. The defense company said it executed orders worth Rs 802 crore in the quarter ended September 2022.
BEML is a multi-technology schedule 'A' company under the Ministry of Defence. It has its operation under three business verticals viz. defence & aerospace, mining & construction and rail & metro. As on 30 September 2022, the Government of India held 54.03% stake in BEML.
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