NEW DELHI, APRIL 30, 2021
Cement maker Dalmia Bharat Ltd on Friday reported a sharp uptick in consolidated profit at Rs 640 crore for the fourth quarter (Q4) ended March 31, 2021, on account of higher revenue from operations and tax credit.
Dalmia Bharat had reported a profit of Rs 24 crore in the corresponding period a year ago.
Its revenue from operations stood at Rs 3,281 crore during the quarter under review, up 32.13 per cent, compared to Rs 2,483 crore in the year-ago period, Dalmia Bharat said in a regulatory filing.
During the fourth quarter ended March 31, 2021, Dalmia Bharat reported tax credit of Rs 212 crore as against a tax expense of Rs 41 crore in the same period of the previous year.
The company’s annual revenue increased 9% to Rs 10,522 crore compared to Rs 9,674 crore in FY20. Quarterly revenue increased 24% (year-on-year) to Rs 6.42 crore from Rs 51.17crore.
Commenting on the results, Dalmia Bharat Limited Managing Director Puneet Dalmia said, “Dalmia Bharat is incredibly proud of its people for delivering industry leading all round performance despite a very tough environment. With another year of strong financial and operating performance, we are on a clear path of accelerated growth backed by a strong Balance Sheet and an exceptionally dedicated team.”
EBITDA of the company increased 32% to Rs 2,783 crore compared to Rs 2,106 crore in FY20. FY21 consolidated PAT increased 5 times to Rs 1,243 crore.
“The performance is backed by broad-based revenue growth of 9.0% across each region of our operation and EBITDA margin expansion of 460bps. Through a much-disciplined execution, we have successfully increased our capacity by 16% while simultaneously pre-paying our gross debt,” said Mahendra Singhi, Managing Director, Dalmia Cement (Bharat) Limited.