BEML hits highest ever turnover at Rs 3,557 cr

BEML Limited, Indian Public Sector Undertaking, recorded its highest ever turnover of Rs 3,557 crore in FY21, up 17%, compared to FY20's total of Rs 3,029 crore. Despite Covid-induced interruptions and reduction of economic operations, the Bengaluru-based firm says it has performed well. In a statement, the company reported that its profit before taxes was Rs 93 crore, up 285% over the previous year. M V Rajasekhar, Chairman and Managing Director of BEML stated that customers place a majority of orders in the face of fierce global competition. The Defense Public Sector Undertaking BEML Limited, earlier Bharat Earth Movers Limited, was founded in May 1964. The firm then manufactured rail coaches, spare parts and mining equipment. At present, BEML works with major sectors of the country—defence, rail, power, mining and infrastructure. Image Source Also read: JSW Steel Q4 results: Net profit jumps to Rs 4,191 crore Also read: KIOCL Q4FY21 results: Net profit rises to Rs 301.17 cr