Dalmia Bharat Ltd has reported a 60.1 per cent decline in consolidated net profits to INR490m (US$5.8m) for the September quarter due to a decline in cement prices. The company had posted a net profit of INR1.23bn for the same period last year.
In this period, the company has noted that operations are also down 2.09 per cent to INR3.08bn from INR3.15bn in the previous year. Sales volume was up by 14.1 per cent to 6.7Mt YoY.
Dalmia Bharat’s CFO, Dharmender Tuteja, said, “We delivered strong volume of growth of 8.4 per cent YoY in Q2 FY25. However, the continuous and unprecedented softness in cement prices resulted in revenue declining 2.1 per cent to INR3.08bn, and EBITDA falling 26.8 per cent YoY to INR434m for the quarter. While external challenges weighed on profitability, we remain focused on long-term cost drivers for margin improvement.”
