Dalmia Bharat Q2 Profit Down 60.2% to Rs 49 cr

New Delhi, Oct 19 (PTI) Cement maker Dalmia Bharat Ltd on Saturday reported a decline of 60.16 per cent in consolidated net profit to Rs 49 crore for the September quarter on account of decline in cement prices.

The company had posted a net profit of Rs 123 crore in the year-ago period, Dalmia Bharat said in a regulatory filing.

Its revenue from operations was also down 2.09 per cent to Rs 3,087 crore during the quarter under review. It was at Rs 3,153 crore in the corresponding period of the previous fiscal year.

Dalmia Bharat's total expenses were at Rs 3,087, marginally up in the September quarter.

However, sales volume was up 14.1 per cent to 6.7 million tonnes (MT) in the second quarter of the ongoing fiscal year.

Total income of the Dalmia family-promoted cement firm was also down 2.28 per cent to Rs 3,160 crore.

"We delivered a strong volume growth of 8.4 per cent year-on-year in Q2 FY25. However, the continuous & unprecedented softness in cement prices resulted in revenue declining 2.1 per cent to Rs 3,087 crore, and EBITDA falling 26.8 per cent year-on-year to Rs 434 crore for the quarter," CFO Dharmender Tuteja said.

He further added, "While external challenges weighed on profitability, we remain focused on long-term cost drivers for margin improvement."

In the September quarter, it commissioned 16 MW captive solar power plant at Sattur, Tamil Nadu, increasing the total renewable energy capacity to 202 MW.

Now, "RE consumption increased to 39 per cent," it said.

Dalmia Bharat with 46.6 MT of consolidated installed capacity, is the fourth-largest cement manufacturing company in India.