BEML surged 7% to Rs 1,253 on the BSE in early morning trade after the company reported 26.5% year-on-year growth in its standalone net profit at Rs 186 crore in the March quarter against Rs 147 crore reported in the same quarter last year. The company had posted profit of Rs 22 crore in the December quarter.
Operational revenues grew 17% to Rs 1,316 crore in the reporting quarter against Rs 1,124 crore in the corresponding quarter of previous fiscal year.
The board of directors of the company has recommended a dividend @ Rs 8/- per equity share (80%) for the year 2016-17.
At 09:27 am; the stock was up 6.6% at Rs 1,247 on BSE against 0.08% decline in the S&P BSE Sensex. A combined 295,138 shares changed hands on the counter on BSE and NSE so far.