DCM Shriram posts Rs 51-crore net profit in Q4

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DCM Shriram has swung into black with a net profit of Rs 51 crore in the March quarter, helped by lower cost of production across business segments.

The company had reported a net loss of Rs 40 crore in the fourth quarter of the 2014-15 fiscal.

The company's net revenue increased to Rs 1,333 crore during the January-March quarter, from Rs 1,309 crore in the same period of 2014-15.

For the entire 2015-16 fiscal, the company reported a rise of 41 per cent in net profit to Rs 297 crore as against Rs 211 crore a year ago, DCM Shriram said in a statement.

"Chloro-vinyl business earnings recorded moderate growth driven by lower input costs and stable prices in the Chemicals business. Similarly, sugar business turned break-even from significant losses last year, led by lower cost of production and better prices in fourth quarter," Company's Chairman and Managing Director Ajay Shriram said.

"We are enthused by the performance of chemical business.

The commissioning of expanded capacity at Bharuch in the current year is expected to significantly improve the cost structure and provide volume growth," he added.

Shares of the company today closed at Rs 166.10 apiece on the BSE.