The Business Bytes
TBB BUREAU
NEW DELHI, APR 25, 2023
One of India’s pioneering cement companies Dalmia Bharat Ltd on Tuesday reported a two-fold increase in its consolidated net profit at Rs 609 crore in the fourth quarter of the financial year 2022-23.
The company had posted a net profit of Rs 271 crore during the January-March quarter a year ago, Dalmia Bharat said in a regulatory filing.
Its revenue from operations was up 15.73 per cent to Rs 3,912 crore during the quarter under review as against Rs 3,380 crore in the corresponding period of the previous fiscal.
Dalmia Bharat’s total expenses were at Rs 3,605 crore, up 17.23 per cent in Q4/FY 2022-23.
Its sales volume in the March quarter also increased 13.3 per cent to 7.4 MnT (million tonnes).
For the entire fiscal year ended March 2023, Dalmia Bharat’s consolidated net profit was up 27.69 per cent at Rs 1,079 crore. It has reported a net profit of Rs 845 crore in FY22.
Its revenue from operation was up 19.97 per cent at Rs 13,540 crore in 2022-23. This was Rs 11,286 crore in FY22.
For the financial year 2022-23, Dalmia Bharat’s volume increased 15.9 per cent to 25.7 MnT.
Commenting on the quarter gone by, Dalmia Bharat Limited Managing Director & CEO Puneet Dalmia said, “I am tremendously proud of our people who have delivered an all-round financial performance alongside meeting the capacity expansion targets of the company. The industry leading volume and revenue growth of 15.9% and 20.0% YoY respectively, is a testament of clarity of our vision, strength of our brand and efficient business operations, all of which is well navigated by our strong leadershipteam”.
“With deep rooted conviction in India’s growth prospects, I am excited that armed with a combination of newly added cement capacity, a well-capitalized balance sheet and a visionary leadership, Dalmia Bharat has a large headroom to continually deliver industry leading performance and participate in India’s growth story,” he added.
“I am pleased with our performance during the entire year of FY23. Our persistent efforts, on enhancing sustainability of our operations& rationalization of our operating costs, have enabled us to mitigate the adverse impact of inflation and deliver stable earnings performance.”He also mentioned that, “With robust demand outlook, steady cement prices and the peak of commodity price inflation behind us, we are expecting profitability to gradually improve from here on,” said Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited.
