Dalmia Bharat Q3 Results: Profit slumps over 75% to Rs 66 crore on weak cement prices
Dalmia Bharat’s profit slumped by more than 75% on year in the December quarter as weak prices of the building material and a moderation in demand offset the benefits of lower cost of raw materials, logistics, and power and fuel.
The country’s fourth-largest producer of cement by capacity posted a consolidated profit of Rs 66 crore for the October-December period, down from Rs 266 crore a year ago. The bottomline was, though, higher as compared to Rs 49 crore in the September quarter helped by a recovery in prices.
Dalmia Bharat sold 6.7 million tonnes of cement during the December quarter, down 2% compared to the previous year. Coupled with a sharp decline in prices, its consolidated revenue was down nearly 12% on year to Rs 3,181 crore.
“Cement demand growth in Q3 fell short of our earlier expectations,” chief financial officer Dharmender Tuteja said. “With demand now gaining traction and prices showing signs of optimism, we are confident about a stronger performance in the upcoming quarters,” he said.
The company’s earnings before interest, tax, depreciation and amortization (EBITDA) fell by more than a third on year to Rs 511 crore, while the EBITDA per tonne fell to Rs 765 from Rs 1,143 a year ago.
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