BENGALURU: State-owned heavy equipment maker BEML Ltd on Friday reported a more than 18% climb in fourth-quarter profit as easing input costs offset a drop in revenue.
Consolidated profit rose to 1.58 billion rupees ($19.12 million) for the three months ended March 31, from 1.33 billion rupees a year earlier.
Net profit margin for the quarter expanded to 11.36% from 7.92% for the same quarter in the previous year.
BEML benefitted from softness in commodity prices and normalising supply chain as it saw a near-25% dip in costs of raw materials, pulling total expenses down by 23.7% to 11.29 billion rupees.
Meanwhile, consolidated revenue from operations decreased 17.6% to 13.88 billion rupees, hurt by a slowdown in realisation of projects.
Its board also declared a final dividend of 5 rupees per share.
The company’s direct rival in the railway sector, Titagarh Wagon Ltd, swung to profit in the fourth quarter from a year-ago loss, while its revenue from operations more than doubled.
Shares of BEML rose as much as 3.5% in afternoon trade.
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