On Thursday, BEML declared that it has secured an order from Chennai Metro Rail valued at Rs 3658 crore. The scope of the contract is extensive and includes depot machinery and plant, standard gauge metro rolling stock (electrical multiple units), design, production, delivery, testing, commissioning, and employee training.
“Following Regulation 30 read with Schedule III of SEBI (LODR) Regulation, 2015, we would like to notify you that on November 27, 2024, M/s. Chennai Metro Rail Limited awarded a contract to BEML for the “Design, Manufacture, Supply, Testing, Commissioning, Training of Personnel and Comprehensive Maintenance Contract for Fifteen Years of Standard Gauge Metro Rolling Stock (Electrical Multiple Units) and Depot Machinery & Plant.” The company made this announcement in a regulatory filing.
Due to a reduction in manufacturing activity and a decrease in demand for its heavy machinery and equipment, BEML reported a 1.5% profit decline in its fiscal second-quarter earnings earlier this month. Compared to Rs 51.78 crore in the previous year, the profit for the period was Rs 51.03 crore. Its operating revenue decreased 6.2% year over year. During the quarter, BEML fulfilled orders of Rs 811.00 crore, up from Rs 910 crore in the same period last year.
