Dalmia Bharat Ltd has reported a 76.84 per cent decline in consolidated net profit at INR470m (US$5.68m) for the quarter ended September. The company had posted a net profit of INR2030m during the July-September quarter a year ago, Dalmia Bharat said in a regulatory filing.
Its revenue from operations increased 15.11 per cent to INR29,710m in the second quarter of the current fiscal. In the year-ago period, the same stood at INR25,810m.
Dalmia Bharat's total expenses rose nearly 29 per cent to INR29,800m in the latest quarter under review. Sales volume increased 13.72 per cent in the September quarter to 5.8Mt compared to the year-ago period.
Dalmia Cement (Bharat) Managing Director and CEO, Mahendra Singhi, said that despite a seasonally-weak quarter, "we are encouraged with recent momentum in prices and volumes.
"Our past investments in strengthening our operational efficiencies and cost rationalisations have enabled us to maintain our low-cost leadership," he added.
"We expect profitability to significantly improve for the rest of the year as the benefits of correction in fuel prices will start getting reflected in the current quarter. I am cautiously optimistic about the opportunity that lies ahead," he said.
