Dalmia Bharat posts 24% YoY increase in net profit

India’s Dalmia Bharat has reported a 23.7 per cent YoY rise in consolidated net profit to INR1.88bn (US$25.08m) for the quarter ending June 2020, compared with 1.52bn in the year-ago period. However, revenue from operations declined 22.2 per cent to INR19.74bn from INR25.37bn.

"Despite the challenges posed by COVID-19, the company once again delivered a strong performance and achieved an EBITDA of INR1675/t during this quarter," said the company. "The same is the highest ever EBITDA achieved by the company and is an outcome of a combination of price increases in our operating regions and our sustained sharp focus on cost optimisation, both variable and fixed," it added.

During the 1QFY20-21 the company also saw cement sales volumes fall 19.6 per cent to INR3.66Mt from 4.55Mt in the corresponding period of the previous fiscal.

"The volume de-growth was only on account of complete lockdown in April and there being no production activity at all," said Dalmia Bharat.