Latest News | DCM Shriram Reports over Two-fold Jump in Q1 Profit at Rs 158 Cr
Get latest articles and stories on Latest News at LatestLY. DCM Shriram on Tuesday posted an over two-fold jump in consolidated net profit at Rs 157.5 crore for the quarter ended June and announced an investment of Rs 145 crore to set up grain-based distillery in Uttar Pradesh.
New Delhi, Jul 20 (PTI) DCM Shriram on Tuesday posted an over two-fold jump in consolidated net profit at Rs 157.5 crore for the quarter ended June and announced an investment of Rs 145 crore to set up grain-based distillery in Uttar Pradesh.
Its net profit stood at Rs 70.10 crore in the year-ago period.
Total income rose to Rs 2,025.11 crore during April-June 2021-22 from Rs 1,938.44 crore in the corresponding period of the previous year, according to a regulatory filing.
Delhi-based DCM Shriram is engaged in manufacturing of sugar, fertilisers, chloro-vinyl and bioseeds.
The board also approved various investment proposals, including setting up of grain-based distillery at Ajbapur sugar unit, with a capacity of 120 KLD (kilolitres per day) at a capital expenditure of Rs 145 crore.
The company will invest Rs 31 crore for additional steam generation for commercial sale of up to 90 TPH (tonnes per hour) at Bharuch.
DCM Shriram will undertake replacement of three electrolysers with a capacity of around 160 TPD (tonnes per day) at Kota Chemicals unit at Rs 44 crore cost.
"We are expanding our ethanol capacity with a new 120 KLD grain-based distillery at our Ajbapur Sugar unit. We have now decided to initiate the expansion of 700 TPD Chlor-alkali capacity along with 500 TPD flaker plant at the Bharuch complex that was put on hold because of uncertainties caused by COVID-19 pandemic.
"We are optimizing the configuration from our under construction 120 MW power plant at Bharuch to sell up to 90 TPH steam.
"We are also replacing three electrolysers at Kota Chemical unit which will be more efficient and are on latest NCZ technology, to reduce power consumption and marginally increase capacity," said Ajay Shriram, Chairman & Senior Managing Director, and Vikram Shriram, Vice Chairman & Managing Director.
All these steps will further strengthen the businesses, they said.
(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)