BEML registers net loss of Rs 13.99 crore in Q4

BEML has registered a net loss of Rs 13.99 crore for the fourth quarter ended March 31, 2012 as compared to a net profit of Rs 70.25 crore during the corresponding quarter previous year. The company’s net sales were declined by 17.04% in the quarter at Rs 774.38 crore as compared to Rs 933.47 crore in Q4 FY11.

For the full year 2011-12, company’s consolidated net profit has plunged by 61.77% to Rs 57.25 crore as compared to Rs 149.76 crore of FY11. The fall in net profit is largely due to increased expenditure and higher interest payments.

Net sales of the company in FY12 were up 2.80% to Rs 2726.49 crore, while its total expenditure has increased by about 24% to Rs 2652.23 crore in the last fiscal.