BEML's Q3 revenue up by 1% to Rs 1047 cr, with improved gross margins and declining employee cost over the year

BEML Ltd has reported a jump of 1% in its revenue for the third quarter of 2024 from Rs 1036 crore to Rs 1047 crore, whereas its year-on-year (YoY) revenue reported a rise from Rs 2510 cr to Rs 2541 cr, registering a growth of 1%.

The employee cost for the company has dropped by 2% YoY basis on consistent efforts towards reducing manpower costs. The EBITDA margins for nine-months period has improved by 34% from Rs 83 crore to Rs 110 crore in the current year over previous year nine months period. The revenue from operations have improved due to Rail & Metro business vertical execution of MEMU orders to Indian Railways RGM to LORAM and Mumbai Metro contracts.

Event the PAT for nine months period upto December 2023 has improved from 0.56 crore to Rs 26 crore, whereas the PAT margin has improved from 0.02% to 1.02%. The PBIT has touched to Rs 63 crore from its previous Rs 35 crore last year. It may be noted that the gross margin has reported better due to reduction in materials costs achieved due to cost effective measures taken by the company. The reducing manpower strength from 5248 in December 2022 to 4948 after a year same period resulted into lessening manpower cost.

Shares of BEML Limited was last trading in BSE at Rs. 3248.20 as compared to the previous close of Rs. 3516.30. The total number of shares traded during the day was 61570 in over 9091 trades.

The stock hit an intraday high of Rs. 3510.00 and intraday low of 3135.65. The net turnover during the day was Rs. 201862104.00.

Source : Equity Bulls

Keywords

BEML INE258A01016 Q3FY24 9MFY24 ResultUpdate