 "Have the banking sector's losses bottomed out?")
State-run BEML's standalone net loss narrowed to Rs 16.6 crore for the second quarter ended September 30, 2016, against that of Rs 24.6 crore in the corresponding quarter of the previous financial year.
Total income from operations declined to Rs 453.5 crore in the quarter under review, over Rs 676.4 crore in the July-September quarter of previous financial year, BEML said in a BSE filing.
Total expenses dropped to Rs 486.6 crore in July-September, over Rs 697.3 crore in the year-ago period.
BEML serves country's core sectors like defence, rail, power, mining and infrastructure. Its three major business verticals viz, mining and construction, defence, rail and metro are serviced by its nine manufacturing units.
BEML's products are exported to more than 56 countries. As part of company's globalisation strategy, the company has expanded its global reach by opening local company at Indonesia and Brazil in addition to Malaysia and China offices.
