India Earnings - BEML rise in profit

BEML announced a phenomenal rise in standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company rose 2.28 times to Rs 555.10 million from Rs 243.20 million in the same quarter previous year.

Net sales for the quarter rose 29.19% to Rs 6,138.90 million, while total income for the quarter rose 30.42% to Rs 6,355.00 million, when compared with the prior year period.

The company posted earnings of Rs 13.33 a share during the quarter, registering 2.24 times growth over prior year period.
During the quarter, Interest cost increased 34.19% to Rs 57.30 million while depreciation cost rose 68.36% to Rs 69.70 million over previous year period.

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