Dalmia Bharat Ltd on Thursday reported a 59.2 per cent decline in its consolidated net profit to Rs 73 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 179 crore during the corresponding quarter a year ago, Dalmia Bharat said in a regulatory filing.
Its revenue from operations was almost flat at Rs 2,731 crore during the quarter under review, compared with Rs 2,737 crore a year ago.
Dalmia Bharat’s total expenses stood at Rs 2,668 crore, up 7.92 per cent in Q3/FY 2021-22 as against Rs 2,472 crore.
Its sales volume was also down 5.7 million tonnes during the quarter as against 5.8 MT of Q3/FY21.
Dalmia Cement (Bharat) Managing Director and CEO Mahendra Singhi said, “Margins, during the quarter, were impacted due to a significant inflation in the energy prices and market weakness in core regions of our operation.”
However, beginning mid-December, things have started to look good. To mitigate the impact of external exigencies, we are working to further strengthen our operational efficiencies and explore avenues of cost rationalisations, he added.
Over the outlook, Dalmia Bharat Managing Director Puneet Dalmia said the recent economic data suggesting a recovery in macro indicators, he was excited about the tremendous opportunity ahead.
“We are pursuing our growth ambitions conscientiously and are making investments to deliver sustainable and profitable growth while ensuring consistency and predictability of our earnings,” Dalmia said.
Shares of Dalmia Bharat Ltd on Thursday settled at Rs 1,725 apiece on the BSE, down 6.07 per cent from its previous close.