BEML surges over 8% on strong Q4 results

MUMBAI: Shares of BEML surged higher in trade a day after it reported its fourth quarter results. The company posted a net profit of Rs 85.35 crore in the quarter ended March 2013 as compared to a net loss of Rs 13.99 crore in the corresponding quarter last fiscal.

It had reported a net loss of Rs 63.34 crore in previous quarter.

Total income for the period increased to Rs 1,122.04 crore as compared to Rs 793.35 crore in year-ago period.

Its other income increased to Rs 52.82 crore from Rs 9.99 crore, year-on-year.

BEML has recommended a dividend of Rs 2.50 per share for the year 2012-13 on shares of face value Rs 10 each.

At 03:15 p.m.; the stock was at Rs 182.10, up 8.62 per cent, on the BSE. It touched a high of Rs 184.80 and a low of Rs 175.05 in trade today.