DCM Shriram reports 19% jump in net revenues

DCM Shriram Limited has reported 19 per cent rise in its net revenues to Rs 2,115 crore during third quarter ending December 31, 2018 from Rs. 1,784 crore in the corresponding period of previous year.

The profit after tax rose to Rs. 226 crore, up 6 per cent from Rs. 213 crore. Earning per share was Rs 14.42 compared to Rs. 13.14 in Q3 FY18, the company informed the National Stock Exchange on Wednesday.

"The company delivered satisfactory performance despite continuing challenges in sugar business and rising input costs in other businesses," said Ajay Shriram, Chairman and Senior Managing Director, and Vikram Shriram, Vice Chairman and Managing Director, in a joint statement.

"The performance reflects positive results of the initiatives taken over past few years to strengthen cost competitiveness, enhance capacity and capacity utilisation and value add through integration. The rationalisation of bulk fertiliser business is almost over which has released capital for growth initiatives," they said.

The company plans to achieve continuous growth in chemicals, sugar, fenesta, bioseed and farm solutions over medium term.