Public sector undertaking BEML Limited, formerly Bharat Earth Movers Limited, on Friday posted over 18 percent jump in its fourth-quarter (Q4FY23) profit as easing input costs offset a drop in revenue. The consolidated profit surged to Rs 158 crore for the three months ended March 31, 2023, as compared to Rs 133 crore in the year-ago quarter.
The state-owned heavy equipment maker's net profit margin for the quarter under review expanded to 11.36 percent from 7.92 percent in the corresponding quarter of previous fiscal.
Meanwhile, consolidated revenue from operations tumbled 17.6 percent to Rs 1,388 crore, hurt by a slowdown in realisation of projects.
BEML benefitted from softness in commodity prices and normalising supply chain as it saw a near-25 percent dip in costs of raw materials, pulling total expenses down by 23.7 percent to Rs 1,129 crore.
The Board has recommended a final dividend of Rs 5 per equity share (50 percent of paid-up share capital) for fiscal FY23, aggregating to Rs 10 per equity share (100 percent of paid-up share capital). The Board had earlier declared an interim dividend of Rs 5 per equity share on February this year, which was paid to the eligible shareholders.
Shares of BEML closed 0.65 percent higher at Rs 1,420 apiece in Friday's trade. The stock hit an intra-day high and an intra-day low of Rs 1,460 and Rs 1,398.20, respectively.
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