Cement-maker Dalmia Bharat Ltd. on Tuesday reported a twofold increase in its consolidated net profit at Rs 609 crore in the fourth quarter of the financial year 2023.
The company had posted a net profit of Rs 271 crore during the January-March quarter a year ago, Dalmia Bharat said in a regulatory filing.
Its revenue from operations was up 15.73% to Rs 3,912 crore during the quarter under review as against Rs 3,380 crore in the corresponding period of the previous fiscal.
Dalmia Bharat's total expenses were at Rs 3,605 crore, up 17.23% in Q4 FY23.
Its sales volume in the March quarter also increased 13.3% to 7.4 MnT (million tonnes).
For the entire fiscal year ended March 2023, Dalmia Bharat's consolidated net profit was up 27.69% at Rs 1,079 crore. It has reported a net profit of Rs 845 crore in FY22.
Its revenue from operation was up 19.97% at Rs 13,540 crore in FY23. This was Rs 11,286 crore in FY22.
For the financial year 2023, Dalmia Bharat's volume increased 15.9% to 25.7 MnT.
Dalmia Cement (Bharat) Managing Director and CEO Mahendra Singhi said: "I am pleased with our performance during the entire year of FY23. Our persistent efforts, on enhancing the sustainability of our operations and rationalisation of our operating costs, have enabled us to mitigate the adverse impact of inflation and deliver stable earnings performance."
Meanwhile, in a separate filing Dalmia Bharat informed its board in a meeting held on Tuesday recommend a final dividend of Rs 5 per equity share on equity share of Rs 2 each for the financial year ended March 31, 2023.
Shares of Dalmia Bharat Ltd on Tuesday settled at Rs 1,920.30 on BSE, down 0.49% from the previous close.
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