Dalmia Bharat Q3 Net Profit Surges 22% to Rs 266 Crore on Volume Sales Growth

25 Jan 2024 , 03:16 PM

Dalmia Bharat Ltd reported a 22% YoY increase in consolidated net profit, reaching Rs 266 crore for the December quarter, attributed to volume sales growth and correction in commodity prices. The company’s revenue from operations witnessed a growth of 7.3% to Rs 3,600 crore in Q3 FY24, compared to Rs 3,355 crore in the same period of the previous fiscal year.

Total expenses for Dalmia Bharat increased by 6.37% to Rs 3,303 crore during the quarter under review.

Sales volume rose by 8.1% to 6.8 million tonnes in Q3 FY23. The company received the final instalment of Rs 120 crore from Hippostores Technology, a promoter group company, related to the sale of Hippo Stores, a new business funded by the Dalmia Bharat group.

Dalmia Bharat’s total income for the December quarter surged by 8.05% to Rs 3,664 crore.

Managing Director and CEO Puneet Dalmia stated that sales volume improved by 8.1% YoY, with EBITDA growing 20.3% YoY to Rs 775 crore in Q3 FY24. Stable cement prices and correction in commodity prices contributed to margin recovery, increasing from 12.8% in Q2FY23 to 21.5% in Q3FY24.

The company increased its cement capacity to 44.6 MT during the quarter. Puneet Dalmia emphasized a focus on improving capacity utilization and delivering industry-leading volume growth in the next 12-15 months.

Shares of Dalmia Bharat Ltd settled 2.05% higher at Rs 2,153.25 on the BSE.

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