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BEML’s profit after tax rises 11% at Rs350 crore

BEML’s profit after tax rises 11% at Rs350 crore
PTI
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First Published: Wed, Apr 02 2008. 02 46 PM IST
Updated: Wed, Apr 02 2008. 02 46 PM IST
Bangalore: State-run BEML Limited has posted a 15.5% growth in turnover in 2007-08 at Rs3,005 crore (provisional) and the company’s profit before tax rose 11% at Rs350 crore (provisional).
The order book as of year-end (2007-08) stood at Rs3,795 crore, to be serviced in the next two-three years, and the Bangalore-headquartered mini-ratna company under the Defence Ministry has set a 20% top-line growth at Rs3,600 crore.
Mining and construction business contributed Rs1,797.35 crore with the company producing 1,275 equipment during the year compared to 911 in the previous fiscal. Defence business posted improved sales from Rs743 crore to Rs770.38 crore.
Exports went up to Rs257.71 crore from Rs110 crore in the previous year, a 132% increase. Rail and metro business more than doubled its sales to Rs272.43 crore, up Rs105.48 crore.
“We have recently tied up with Nalco for design and manufacture of 100 tonne open type aluminium wagon also with bottom discharge on a joint development basis for the first time in the country,” BEML’s chairman and managing director VRS Natarajan told a press conference. “We propose to develop and supply 100 tonne corten steel wagons if customers in India came forward to work with us”.
Plans for expansion and diversification include high capacity dumpers, metro coaches for broad gauge and standard gauge, stainless steel coaches, airport link high speed trains and bogies for high speed trains.
China outsourcing office would commence operations from next month, company officials said.
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First Published: Wed, Apr 02 2008. 02 46 PM IST
More Topics: BEML | Bangalore | Nalco | China | Defence ministry |