NEW DELHI, MAY 10, 2022
Cement maker Dalmia Bharat has reported around 6 per cent decline in consolidated net profit at Rs 599 crore for the fourth quarter (Q4FY22) ended March 2022. It had clocked a net profit of Rs 640 crore in the year-ago period, Dalmia Bharat said in a regulatory filing.
However, revenue from operations was up 7.26 per cent to Rs 3,380 crore during the quarter under review as against Rs 3,151 crore in the same period a year ago.
Total expenses were at Rs 3,077 crore as against Rs 2,770 crore.
Sales volume was also up 3.12 per cent in January-March 2021-22 to 6.6 million tonne as against 6.4 million tonne in the year-ago period.
For FY2021-22, the consolidated net profit was marginally down at Rs 1,160 crore from Rs 1,186 crore in 2020-21.
Revenue from operation was at Rs 11,286 crore in FY 2021-22 as against Rs 10,110 crore in the previous year.
In FY 2021-22, sales volume was 22.2 million tonne, up 7.3 per cent from the previous year’s 20.7 million tonne.
Commenting on the fianancial performance of the Company, Dalmia Bharat Limited Managing Director Puneet Dalmia said, ““With an objective to create a globally respected professional organization we have, during the year, undertaken several transformation measures from laying down a formal capital allocation framework, formalizing our growth target of 110-130 Mnt, appointing Big five as Internal & Statutory auditors, to creating a formal risk management policy and framework amongst several other initiatives.”
“Though the year witnessed unprecedented cost challenges and demand volatility, we have done exceedingly well in our growth and transformation journey. We remain excited about the tremendous opportunity ahead and the company is on a clear path of accelerated growth backed by sustainable business investments, strong Balance Sheet and an exceptionally dedicated team,” he added.
“Through proactive cost containment measures, our teams have successfully mitigated the adverse inflationary impact and delivered one of the lowest total cost per ton of cement alongside a volume growth in-line with the industry. The recent strong recovery in demand and prices across all our operating regions is highly encouraging. While the margins may continue to remain under pressure, we are undertaking proactive measures to retain our cost leadership and deliver sustainable earnings growth. We continue to be on track to reach capacity of 48.5 million ton by March ’24, “Dalmia Cement (Bharat) Managing Director and CEO Mahendra Singhi said.