The company’s revenue increased 29.3% year-on-year to ₹820 crore from ₹634 crore, driven by improved execution across its businesses.
Operating performance also improved during the quarter, with the earnings before interest, tax, depreciation and amortisation (EBITDA) turning positive at ₹3 crore, compared with an EBITDA loss of ₹49 crore a year earlier. EBITDA margin stood at 0.4%, versus a negative margin in the year-ago period.
At the pre-tax level, consolidated loss narrowed to ₹33.7 crore from ₹70.3 crore a year ago. Total income rose to ₹821.2 crore from ₹642.6 crore, while total expenses increased to ₹854.9 crore from ₹712.8 crore.
Material costs rose to ₹428.6 crore from ₹371.6 crore in the year-ago quarter, while employee benefit expenses stood at ₹202.6 crore compared with ₹209.4 crore a year earlier. Finance costs increased to ₹13.9 crore from ₹9.8 crore, and depreciation and amortisation expense rose to ₹23.4 crore from ₹19.8 crore.
BEML said its subsidiary Vignyan Industries remains under voluntary liquidation, while MAMC Industries continues to be consolidated in the group’s financial statements.
The company has also advanced ₹74.7 crore to the MAMC consortium and ₹6.2 crore to MAMC Industries as part of the asset acquisition process for Mining & Allied Machinery Corporation (MAMC), with recoverability dependent on the eventual sale or realisation of the acquired assets.
In another board decision, BEML appointed Savitri Yadav as Company Secretary and Compliance Officer with immediate effect, replacing Urmi Chaudhury. Yadav has over 17 years of experience in company secretarial functions, SEBI regulations and corporate law.
Shares of BEML are looking to recover from the lows of the day, currently trading 1.8% higher at ₹1,756.1. The stock is still down 5% on a year-to-date basis.
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