State-run Bharat Earth Movers Ltd (BEML) reported net profit of Rs 130 crore for fiscal 2017-18, registering 53 per cent annual growth from Rs 84 crore in the previous fiscal 2016-17.
The company’s board of directors has recommended an annual dividend of Rs 8 per share (80 per cent) for the fiscal (FY 2018) to its retail and institutional investors.
In a regulatory filing to the BSE, the city-based defence behemoth said revenue from operations grew 17 per cent to Rs 3,305 crore for the fiscal under review (FY 2018) from Rs 2,835 crore year ago (FY 2017).
Although net profit for the fourth quarter (Q4) of the fiscal at Rs 188 crore remained flat 1.1 per cent annually from Rs 186 crore in the same period year ago, it grew sequentially a whopping 1,006 per cent from Rs 17 crore quarter ago.
“Revenue for the quarter under review (Q4) declined 5 per cent to Rs 1,253 crore from Rs 1,316 crore in the like period year ago, but shot up 71 per cent sequentially from Rs 732 crore quarter ago,” said the filing.