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BEML Q1 Results: Net loss narrows to ₹74.6 crore on lower expenses
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₹74.6 crore in the three months ended June 30, from ₹82.3 crore a year earlier. The Indian government's push for higher capital expenditure in its last full budget announced in February 2023 benefited companies in the infrastructure and allied space.
The push, which included segments such as defence and transport, came ahead of a parliamentary election due in 2024. Also contributing to the narrower loss was a 13.2% fall in total expenses, thanks to a 30.5% dip in the cost of materials consumed.
Its consolidated revenue from operations, however, fell 14% to ₹577 crore, hurt by a slowdown in the realisation of projects. Shares of BEML fell as much as 2.5% on Friday after the results.
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