Cement maker Dalmia Bharat Ltd on Tuesday reported a two-fold increase in its consolidated net profit at Rs 609 crore in the fourth quarter of the financial year 2022-23.
The company had posted a net profit of Rs 271 crore during the January-March quarter a year ago, Dalmia Bharat said in a regulatory filing.
Its revenue from operations was up 15.73 per cent to Rs 3,912 crore during the quarter under review as against Rs 3,380 crore in the corresponding period of the previous fiscal.
Dalmia Bharat's total expenses were at Rs 3,605 crore, up 17.23 per cent in Q4/FY 2022-23.
Its sales volume in the March quarter also increased 13.3 per cent to 7.4 MnT (million tonnes).
For the entire fiscal year ended March 2023, Dalmia Bharat's consolidated net profit was up 27.69 per cent at Rs 1,079 crore. It has reported a net profit of Rs 845 crore in FY22.
Its revenue from operation was up 19.97 per cent at Rs 13,540 crore in 2022-23. This was Rs 11,286 crore in FY22.
For the financial year 2022-23, Dalmia Bharat's volume increased 15.9 per cent to 25.7 MnT.
Dalmia Cement (Bharat) Managing Director and CEO Mahendra Singhi said: "I am pleased with our performance during the entire year of FY23. Our persistent efforts, on enhancing the sustainability of our operations and rationalisation of our operating costs, have enabled us to mitigate the adverse impact of inflation and deliver stable earnings performance." Meanwhile, in a separate filing Dalmia Bharat informed its board in a meeting held on Tuesday recommend a final dividend of Rs 5 per equity share on equity share of Rs 2 each for the financial year ended March 31, 2023.
Shares of Dalmia Bharat Ltd on Tuesday settled at Rs 1,920.30 on BSE, down 0.49 per cent from the previous close.
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