BEML net at Rs 269 crore, up 19 %

BEML net at Rs 269 crore, up 19 %

BEML net at Rs 269 crore, up 19 %

The company had posted a total sales revenue of Rs 2,713.34 crore in the previous fiscal 2008. Briefing reporters, Chairman & Managing Director V R S Natarajan said the company made a net profit of Rs 268.84 crore for the financial year ended March 31, 2009 as against Rs 225.65 crore in the previous fiscal registering a rise of 19.1 per cent. 
For the quarter ended March 2009, BEML’s net sales were Rs 1262.51 crore against Rs 1049.03 crore last year. The net profit for the quarter stood at Rs 172.02 crore as against Rs 118.50 crore in the same quater previous fiscal.

 The robust performance was driven by its mining business which contributed 61 pc  of the total business, clocking sales of Rs 1,841 crore.   While defence business contributed to 20 per cent of the kitty, rail and metro business constituted 16 per cent of total business, he added.  BEML , which has scaled the Rs 3,000 crore mark, hopes to reach  a milestone of Rs 4,000 crore revenues in 2009-10.

Future plans

The ambitious target, Natarajan said was also driven by the healthy order book position which stood at Rs 5,038 crore as on April 1, 2009.

BEML also said it will soon  manufacture hi-tech rail coaches for low, medium and high speed trains in technology collaboration with Alstom of France. “We have signed an agreement with Alstom for technology transfer to build coaches for light-speed, medium and high-speed trains for metro and intra-city commuting. We will jointly bid for the orders when projects are initiated under public-private partnership by Indian Railways and state governments,” Natarajan told reporters here.

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