New Delhi, Nov 14 (PTI) DCM Shriram Industries Ltd on Monday posted a sharp decline in consolidated net profit at Rs 93 lakh during the second quarter of the 2022-23 fiscal on higher expenses.

The company had posted a net profit of Rs 12.64 crore in the same quarter previous financial year, according to a regulatory filing.

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The total income rose on a consolidated basis to Rs 532.70 crore in the July-September quarter of the 2022-23 fiscal, from Rs 487.74 crore in the year-ago period.

However, expenses remained higher at Rs 534.74 crore, as against Rs 475.55 crore in the said period a year ago.

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The company is engaged in the business of sugar, chemicals and industrial fibers and related products.

(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)