BEML stock falls 7% after March quarter results, down 20%
Business
BEML's stock dropped 7% on Friday, May 29 after the company posted disappointing March-quarter results.
Profits and margins took a hit, and the stock is now down 20% over the past year, staying well below its recent highs.
BEML posts record production and orders
The fourth quarter saw BEML's net profit fall 38% to ₹180 crore and margins shrink sharply. Still, revenue grew by 9%, hitting ₹1,794 crore.
Looking at the bigger picture, BEML actually hit its highest-ever yearly production value and a record order book.
The company also ramped up R and D spending and approved a total full-year dividend payout of ₹2.85 per share, so it's not all bad news for long-term fans.