Dalmia Bharat's profit surges nearly 3 times on improved pricing
ADVERTISEMENT The cement producer's sales volume fell nearly 6% on year to 7 million tonnes in the June quarter, which limited a growth in its consolidated revenue to 0.4% on year to Rs 3,636 crore. The topline grew despite a fall in sales volume as realisations improved by 6.6% on year to Rs 5,193 per tonne during the quarter.
This also boosted the company's earnings before interest, tax, depreciation and amortization to an all-time high of Rs 883 crore, while the EBITDA made on each tonne of cement surged 40% on year to Rs 1,261.
The profitability was also boosted by lower costs of logistics and power and fuel costs, as compared to the previous year.
'Beginning of this year marks a recovery in cement realizations in our key markets, which has helped us deliver robust EBITDA growth, resulting in an EBITDA margin of 24.3%, which is an increase of 5.8% percentage points compared to last year,' Puneet Dalmia, managing director of the company was quoted in a release. The company currently has a capacity of 49.5 million tonne and is targeting a capacity of 75 million tonne by FY28. Earlier this year, the company announced fresh capital investments of Rs 6,800 crore for adding 12 million tonne of capacity across its South and West regions.
ADVERTISEMENT 'Backed by a robust balance sheet, a disciplined capital allocation framework and healthy profitability outlook, we are steadily progressing towards our vision of becoming a PAN-India player,' chief financial officer Dharmender Tuteja said.The company announced its earnings after market hours, and its shares closed at Rs 2,319.15 rupees on the BSE, up 2.5% from the previous close.
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