Home > Business > Dalmia Bharat Q2FY24 net profit up 162pc at Rs 123 crore

Dalmia Bharat Q2FY24 net profit up 162pc at Rs 123 crore


NEW DELHI, OCT 14, 2023

Dalmia Bharat on Saturday reported a net profit of Rs 123 crore for the quarter ended September 30, 2023, registering 161.7 percent year-on-year (Y-o-Y) growth as compared to Rs 47 crore net profit recorded in the corresponding period in the previous fiscal. This was largely on the back of lower power and fuel expenses.

The cement company’s Q2 FY24 sales volume stood at 6.2 million tonne, up 6.6 percent YoY from Q2 FY23 volume of 5.8 million tonne. Revenue from operations for the quarter under review came in at Rs 3,149 crore, up 6 percent YoY.

Commenting on the performance, Dalmia Bharat Limited Managing Director & CEO Puneet Dalmia said, “We see a multi-year strong cement demand trend continuing, as India is undergoing a large-scale metamorphosis. We were one of the first ones to foresee this upcycle and started building our capacity ahead of time. In the last 3.5 years, we have added 17.2 MnT cement capacity, which is 65 percent growth over FY20 capacity.”

“In line with our vision to reach 110 -130 million tonnes by 2031, we are continuing to make consistent strides in that direction and capitalize upon the huge opportunity ahead of us,” he added.

The company’s current cement capacity stands at 43.7 million tonne and clinker capacity at 22.2 million tonne.

For the quarter ended September 30, 2023, Dalmia Bharat achieved an EBITDA of Rs 589 crore, up 55.2 percent YoY from the Rs 379 crore recorded in Q2 FY23. The EBITDA per metric tonne also increased to Rs 955 from the Rs 655 in Q2 FY23.

Dalmia Cement (Bharat) Limited Managing Director and CEO Mahendra Singhi said, “With the reduction in fuel prices, increased usage of Renewable power and improvement in KPIs, we were able to deliver 55 percent YoY improvement in our EBITDA, which stands at Rs 589 crore. During first half of the year, we commissioned 5.1 MnT of cement and 0.5 MnT clinker capacity in the East and South region.”

“We continue to demonstrate our commitment towards the environment as we have further brought down our carbon footprint to 456 kg CO2per ton of cement which is one of the lowest in the global cement sector,” he added.

About admin

Leave a Reply

Your email address will not be published. Required fields are marked *