Dalmia Bharat Q4 Net Profit Down 47% to Rs 320 cr

New Delhi, Apr 24 (PTI) Cement maker Dalmia Bharat Ltd on Wednesday reported a 47.5 per cent decline in consolidated net profit to Rs 320 crore for the March quarter on account of drop in prices.

The company had posted a net profit of Rs 609 crore in the January-March period a year ago, Dalmia Bharat said in a regulatory filing.

However, its revenue from operations was up 10 per cent to Rs 4,307 crore during the quarter under review as against Rs 3,915 crore in the year-ago period.

Chief Financial Officer Dharmender Tuteja said the March quarter witnessed "unexpected drop" in cement prices, which "led to... EBITDA margin declining from 18.1 per cent in Q423 to 15.2 per cent during the quarter".

Dalmia Bharat's total expenses during the quarter under review were at Rs 4,075 crore, an increase of 13.04 per cent.

Its sales volume was up 18.5 per cent to 8.8 million tonnes (MT).

For the financial year ending March 31, 2024, Dalmia Bharat sales volumes increased to 11.8 per cent to 28.8 MT.

Its consolidated net profit for 2023-23 was down 20.9 per cent to Rs 853 crore from Rs 1,079 crore a year ago.

Its total income for the fiscal year was up 9.7 per cent to Rs 15,006 crore as against Rs 13,678 crore in the year-ago period.

In FY24, Dalmia Bharat's "installed cement capacity increased 15.6 per cent YoY to 44.6 MT".

Commenting on the results, Dalmia Bharat Managing Director Puneet Dalmia said, "During FY24, we delivered volume growth of 11.8 per cent at 28.8 MT and EBITDA growth of 13.4 per cent at Rs 2,639 crore."

"We will continue to work on gaining market share and improving realisations while deepening the cost leadership,” he said.

The board of the company in a meeting on Wednesday recommended a final dividend of Rs 5 per equity share of face value of Rs 2 each for FY24.

Shares of Dalmia Bharat Ltd on Wednesday settled at Rs 1,959.20 on BSE, up 0.52 per cent.