BEML, formerly known as Bharat Earth Movers Limited, has received contract worth Rs 3,658 crore from Chennai Metro Rail Limited.
The contract is for design, manufacture, supply, testing, commissioning, training of personnel and comprehensive maintenance of standard gauge metro rolling stock (Electrical Multiple Units) and depot machinery and plant for 15 years.
Earlier this month, BEML posted its fiscal second quarter earnings with a profit decline of 1.5 per cent due to lower demand for its heavy machinery and equipment as manufacturing activity dipped. Profit for the period stood at Rs 51.03 crore in comparison to Rs 51.78 crore a year earlier. Its revenue from operations dropped by 6.2 per cent YoY. BEML executed orders worth Rs 811.00 crore during the quarter, compared with Rs 910 crore a year earlier.
