BEML bags order worth ₹1,888 crore from Integral Coach Factory for 600 LHB coaches

State-owned BEML Limited on Monday (August 11) announced that it has received an order worth approximately ₹1,888 crore from Integral Coach Factory. The contract involves the manufacture, supply, testing and commissioning of complete, fully functional Linke Hofmann Busch (LHB) coaches.

First Quarter Results

Also, the company reported a net loss of ₹64 crore, which is marginally higher than the CNBC-TV18 poll of ₹58 crore. The PSU had reported a net loss of ₹70.5 crore during the same quarter last year.

The company was also expected to report a narrower Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) loss during the quarter due to a moderately better operating leverage.

Also Read: BEML secures ₹282-crore defence order for high mobility vehicles

BEML reported an EBITDA loss of 49 crore during the quarter, compared to expectations of a ₹45 crore loss and against a loss of ₹50.1 crore during the same quarter last year.

Revenue for the quarter has remained unchanged at ₹634 crore, while the company was expected to report a 9% growth from last year to ₹689 crore. On a sequential basis, the topline is down over 60%.

Also Read: BEML wins export orders worth $6.23 million from CIS region, Uzbekistan

Shares of BEML Limited ended at ₹3,945.45, up by ₹88.35, or 2.29%, on the BSE.