The Business Bytes
TBB BUREAU
NEW DELHI, JANUARY 27, 2022
Leading cement manufacturing company Dalmia Bharat Ltd on Thursday reported a 59.2 per cent decline in its consolidated net profit to Rs 73 crore for the third quarter (Q3FY22) ended December 2021.
The company had posted a net profit of Rs 179 crore during the corresponding period a year ago, Dalmia Bharat said in a statement.
Dalmia Bharat Ltd revenue from operations stood at Rs 2,731 crore during the quarter under review, compared with Rs 2,737 crore a year ago.
The Company’s total expenses stood at Rs 2,668 crore, up 7.92 per cent in Q3FY 2021-22 as against Rs 2,472 crore.
Its sales volume was also down 5.7 million tonnes during Q3FY22 as against 5.8 MT of Q3FY21.
Commenting on the results, Dalmia Bharat Managing Director Puneet Dalmia said, “The industry witnessed a difficult quarter with unprecedented cost escalations coupled with a weak demand scenario. However, we believe that the peak of costs is behind us and both the demand and prices are showing some strength.”
“With recent economic data suggesting recovery in macro indicators, I am excited about the tremendous opportunity ahead. We are pursuing our growth ambitions conscientiously and are making investments to deliver sustainable and profitable growth while ensuring consistency and predictability of our earnings,” he added.
