Latest News | Dalmia Bharat Q1 Profit Falls 30 Pc at Rs 144 Crore

New Delhi, Jul 20 (PTI) Cement maker Dalmia Bharat Ltd on Thursday reported a 29.75 per cent decline in consolidated profit after tax at Rs 144 crore in the June quarter, impacted by higher expenses.

The company had posted a consolidated profit after tax of Rs 205 crore in the first quarter of the last fiscal year, Dalmia Bharat said in a regulatory filing.

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Consolidated revenue from operations was at Rs 3,624 crore as compared to Rs 3,302 crore in the year-ago period.

Total expenses were higher at Rs 3,496 crore in the first quarter of 2023-24, up from Rs 3,075 crore in the same period a year ago, the company said.

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"Though we have strong conviction in our ability to outperform the industry, this quarter has been a disappointment as against our expectations," Dalmia Bharat Ltd Managing Director & Chief Executive Officer Puneet Dalmia said.

He said the cement industry is in the midst of a strong demand environment on the back of a sustained push by the government on infrastructure and a robust real estate cycle already kicking in.

The company remains focused on seizing the emerging demand opportunities, sustaining its position as a cost leader and delivering sustainable return to stakeholders, Dalmia said.

During the first quarter, the company said its volume increased 12.4 per cent year-on-year to 7 million tonnes.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)