Dalmia Bharat Q2 PAT drops 77% YoY to Rs 50 cr

Dalmia Bharat's consolidated net profit from continuing operations tumbled 76.7% to Rs 50 crore despite 15.11% rise in revenue from operations to Rs 2,971 crore in Q2 FY23 over Q2 FY22.

Profit before exceptional items and tax dropped 90.7% to Rs 29 crore in Q2 FY23 as against Rs 313 crore posted in Q2 FY22. The company reported net exceptional loss of Rs 6 crore in Q2 FY22.

EBITDA declined 38.97% to Rs 379 crore in the quarter ended 30 September 2022 as compared to Rs 621 crore in the same quarter previous year.

Sales volume during the quarter increased 13.2% to 5.8 million tonne from 5.1 million tonne recorded in the corresponding quarter last year.

Meanwhile, the company's board declared an interim dividend of Rs 4 per equity share for the financial year ending 31 March 2023. The board determined 11 November 2022 as the record date for the purpose of payment of the said interim dividend.

Puneet Dalmia, managing director & CEO of Dalmia Bharat said, Despite a steep inflationary environment, we are pleased with our performance during the first half of this year and we believe that for the industry, the worst is behind. While the geopolitical turmoil continues, we remain confident on the resilience of the Indian economy as it solidifies its position as a key contributor to the global growth & consumption center.

He further added, Driven by revival in housing and the government's continual push for infrastructure, we expect cement demand to be robust. Looking ahead, we remain focused on further progressing on our capacity expansion plan along with providing top-tier returns for our stakeholders.

DCBL is a leading player in the cement manufacturing segment. With a growing capacity, currently pegged at 35.9 MnT, Dalmia Cement is the the fourth-largest cement manufacturing group in India by installed capacity. Spread across ten states and fourteen manufacturing units, the company is a category leader in super-speciality cement used for oil well, railway sleepers and airstrips and is the country's largest producer of Portland Slag Cement (PSC).

The scrip rose 2.60% to currently trade at Rs 1,636 on the BSE.

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