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The net profit of the diversified conglomerate DCM Shriram has dipped by nearly 30 per cent in Q2 to Rs 119 crore, even though the Q2 revenue reported a marginal 3 per cent increase to Rs 1,753 crore as against Rs 1,700 crore in the corresponding quarter of 2018-19, a company statement said on Thursday.
The lacklustre Q2 performance was mainly on account of lower volumes of sugar sales and distillery. While the sugar sales were down by 6 per cent yoy, that of distillery came down by 27 per cent because of better sales recorded in the corresponding quarter last fiscal, it said.
Despite drop in net profits, the Board declared an interim dividend of 200 per cent. DCM Shriram shares shed Rs 3.60 to close at Rs 392.15 apiece at NSE on Thursday.
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