BEML Q3 Results: Profit dips 27% as expenses rise; dividend declared

State-owned heavy equipment maker BEML Ltd on Thursday reported a 27% year-on-year (YoY) decline in third-quarter consolidated profit at ₹48 crore, from ₹66 crore a year earlier.

Meanwhile, consolidated revenue from operations was just up 1% YoY to ₹1,047 crore, compared to ₹1,037 crore in the corresponding period of last year.

The company's total expenses rose 4% YoY to ₹1,014 crore, from ₹975.48 crore a year ago.

EBITDA or earnings before interest, taxes, depreciation, and amortization fell 37% to ₹57 crore, compared to ₹90 crore in the year-ago period. Margin stood at 5.4%.

The Board of Directors have declared an interim dividend of ₹5 per equity share, which is 50% of the paid-up share capital. The dividend will be paid to the eligible shareholders as on the record date that has been fixed on February 16, 2024.