BEML nets Rs 36.36 cr PBT in Q-1

Bangalore, July 30 (UNI) Public Sector 'Miniratna'-- Bharat Earth Movers Limited, has achieved a total sales of Rs 421.78 crore during the quarter ending June 30, as against Rs 369.59 crore in the corresponding period last year.

The profit before tax was at Rs 36.36 crore, a 56 per cent increase compared to Rs 23.31 crore of last year. As far as first quarter results are concerned, PAT would be Rs 23 crore against Rs 15.01 crore for the same period with 57 per cent increase over the last year, according to a release here today.

The company has Rs 1621 crore worth of order as of the end of first quarter of FY 2007-08 and expected to achieve a turnover of Rs 3000 crore in this fiscal.

The company achieved Rs 13 crore of exports in first quarter as against Rs eight crore in the same period last year. It had recorded an export turnover of Rs 110.73 crore last year and has set a target of Rs 150 crore for this fiscal.

BEML, as part of realising its Corporate Vision 2013-14 to achieve Rs 5000 crore turnover to coincide its Golden Jubilee Year, has set itself for diversification in various fields of its business and set to score in technology, trading, mining businesses and recently launched 'BEML Oil' with business tie-up with M/s Nandan Petrochem to market the lubricant for the machineries of heavy equipments.

Besides, the company launched a joint venture company at Hyderabad with M/s Midwest for contract mining business. With coal, mineral and non-coal business getting opened out, this would add continuous&great value to BEML business, the release added.

UNI