BEML tumbles deeper into red
By
Research Desk
about 8 years ago
BEML is the top loser since the opening bell. The stock price is down over 9% at Rs.930 with an intra day low at Rs.923.40.
The market has given the stock a complete thumbs down for its dismal Q1FY17 performance. The company’s loss for the quarter widened to Rs.107 crore, almost doubling from YoY loss of Rs.68 crore.
Its total income was down 50% at Rs.295 crore and total expenses halved from Rs.654 crore to Rs.398 crore. But the drop in the topline was too much and even the lower expenses did not help – its loss at EBITDA level came in at Rs.88 crore.