Comments
DCM Shriram has posted a consolidated net profit of ₹233 crore in the quarter ended June 30, which was an impressive 40 per cent increase over the same period last financial year.
Riding on 116 per cent increase in sugar sales, the company clocked a revenue of ₹2,052 crore, which was 36 per cent over ₹1,514 crore in the Q1 last year, a release from the company said on Tuesday.
Revenue from its sugar business was ₹659.8 crore, 139 per cent up from ₹275.9 crore during the same period.
Similarly, there has been a 42 per cent growth in sales of chemicals too, the release said.
The company also said projects worth ₹350 crore, including 150 KLD molasses-based distillery and 80 TPD expansion at its existing Kota Chlor Alkali plant, are currently under way.
The rating agency ICRA upgraded the firm’s long term rating from AA- to AA, thanks to the impressive performance.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.