Defence PSU BEML Ltd posted Q1 loss of INR 39.44 crore year on year. The company’s net sales declined 25% YoY to INR 413.9 crore (INR 552.57 crore) for the April to June 2012 quarter. This is the second successive quarter of loss for the nearly INR 3,000-crore earth moving equipment major.

It posted Q4 loss of almost INR 14 crore in the last fiscal. A company official, however, said the two quarters should not be connected. The current fiscal was yet to see sales volumes pick up.

Official said that “We expect the planned volumes to grow by the end of Q2.” The official added that clearances were getting delayed in the defence segment that accounts for around 20% of the business. Mining clients had postponed contracts. “We are sorting it all out” over the coming months.

Source - Business Line

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