Dalmia Cement’s Q2 net profit jumps
Shares of Dalmia Bharat jumped over 5% to hit a 52-week high Friday after the cement maker reported strong earnings for the second quarter of fiscal 2021.
On Thursday, Dalmia Bharat reported over six-fold increase in its consolidated net profit at Rs 232 crore for the quarter ended September 2020, helped by higher sales volume. The company had posted a net profit of Rs 36 crore during the same quarter last year.
Revenue from operations during Q2FY21 increased 7.78% to Rs 2,410 crore from Rs 2,236 crore, YoY. Sales volume stood at 4.80 million tonnes during the quarter, up 7.38%, as against 4.47 million tonnes.
The volume growth was achieved on the back of demand from rural segment and pick-up in government’s infrastructure and low-cost housing projects. The eastern states continued to outperform with green-shoots of demand revival visible in south in the later part of the quarter.
Total expenses were down 8.23% at Rs 2,083 crore as against Rs 2,270 crore in the year-ago period.
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