BEML Narrowing it's Losses

State-run BEML has reported narrowing of its consolidated loss at Rs 98.21 crore for the quarter ended June 30. The company posted a consolidated loss of Rs 162.56 crore in the year-ago period, BEML has said in a filing to BSE.

On August 2, 2019, there were some media reports, somehow, stated by mistake that BEML had posted a consolidated profit of Rs 98.21 crore for the quarter ended June 30, against a consolidated profit of Rs 162.56 crore in the April-June period of 2018-19.

BEML said that its consolidated income during June 2019 quarter increased to Rs 589.10 crore, compared with Rs 457.91 crore a year ago. BEML serves core sectors such as defence, rail, power, mining and infrastructure.

The company operates under three major business verticals -- mining and construction, defence, and rail and metro.