The Business Bytes
TBB BUREAU
NEW DELHI, AUGUST 4, 2022
Dalmia Bharat Limited, a leading cement manufacturing company, on Thursday reported a 26.78 per cent decline in its consolidated net profit to Rs 205 crore for the first quarter (Q1) ended June 30, 2022.
The company had posted a net profit of Rs 280 crore during the corresponding period in the previous fiscal (Q1FY22), Dalmia Bharat said in a regulatory filing.
Its revenue from operations went up by 27.44 per cent to Rs 3,302 crore during Q1FY23 against Rs 2,591 crore in Q1FY22.
Dalmia Bharat’s total expenses rose 37.7 per cent to Rs 3,072 crore in the quarter under review from Rs 2,231 crore in the year-ago period.
Its sales volume increased 26.53 per cent in the April-June 2022 quarter to 6.2 million tonne compared to 4.9 MT of Q1 FY22.
Ommenting on the financial report, Dalmia Bharat Managing Director and CEO Puneet Dalmia said: “The continuous efforts and resilience of our teams have enabled us to deliver yet again a good performance on the back of strong volume growth and continuous cost leadership. We are committed to delivering industry leading returns to our stakeholders through our sustainable business model and a robust governance mechanism.
“While we may be in the midst of global economic headwinds and trade turmoil, we are cautiously optimistic with regards to the medium- & long-term growth of the Indian Economy. We remain confident that the government’s push for capital expenditureas well as constant focus on infrastructure development will continue to boost cement demand,” he added.
Dalmia Cement (Bharat) Limited Managing Director and CEO Mahendra Singhi said, “Our sustained efforts on operational efficiencies & cost rationalization have enabled us to mitigate the adverse impact of inflation and deliver lowest total cost of production.
“Our capacity expansion projects are on track and we have added 2Mnt of Clinker capacity and 1.1Mnt of Cement capacity and which takes our Cement Manufacturing installed capacity to 37.0Mnt. We remain firm on our Carbon Negative Roadmap and during the quarter have installed 41.4 MW of Renewable Energy,” he added.
