Companies

Dalmia Bharat net down 16% to Rs 26 cr

PTI New Delhi | Updated on February 07, 2020 Published on February 07, 2020

Credits- Screengrab from @DalmiaBharat twitter account.

Dalmia Bharat consolidated net profit dipped 16 per cent to Rs 26 crore in the quarter ended December 2019. The company had posted a consolidated net profit of Rs 31 crore in the quarter ended on December 31, 2018, a BSE statement said.

Total revenue of the company fell to Rs 2,486 crore in the third quarter from Rs 2,228 crore a year ago.

“During the quarter, there was a price reduction witnessed across most markets in the country, with east witnessing a slightly higher decline. If the recent demand growth continues to give positive indications, we expect that the adverse volatility of pricing could be restricted from these levels,” the company said.

 

 

It also said, “On cost side, the variable cost for the company has improved Y-o-Y (year-on-year) on account of power and fuel. This was on the back of favourable petcoke prices during the quarter. On a Y-o-Y (year-on-year) basis, freight costs have remained flat.”

The board of directors of the company in its meeting held on February 6, 2020 at New Delhi, approved interim dividend of Rs 2 (100 per cent) per equity share of Rs two each for 2019-2020.

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Published on February 07, 2020
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