Today on BSE, Bharat Earth Movers Limited (BEML) fell 1.32 per cent to Rs 1416 after the company had reported a consolidated net loss of Rs 82.36 crore in the first quarter of Financial Year 2023 as compared to a net loss of Rs 94.0crore in the same period of last year. During the first-quarter net sales rose 48.4 per cent annually to Rs 669.18 crore. Total expenses have increased by 33.3 per cent to Rs 752.31 crore in the first quarter FY23 over Q1 FY22.

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The company’s order book stood at Rs 9,100 crore at the end of the first quarter as against Rs 11,211 crore in June last year. The defence firm said it executed orders worth Rs 663 crore in June 2022. BEML is a multi-technology schedule ‘A’ company under the Ministry of Defence. It operates under three business verticals: defence & aerospace, mining & construction, and rail & metro. Also, the Government f India (GOI) held 54.03 per cent shares in BEML at the end of the quarter.