Dalmia Bharat jumped 3.14% to Rs 1,927.45 after the company's consolidated net profit from continuing operations surged 142.9% to Rs 204 crore in Q3 FY23 as against Rs 84 crore posted in Q3 FY22.
Revenue from operations increased 22.7% year on year to Rs 3,355 crore in the quarter ended 31 December 2022.Profit before tax zoomed to Rs 286 crore in Q3 FY23 as compared with Rs 93 crore reported in Q3 FY22.
EBITDA grew 57.5% to Rs 644 crore in the quarter ended 31 December 2022 as compared to Rs 409 crore in the same quarter previous year. EBITDA margin improved to 19.2% in Q3 FY23 from 15% in Q3 FY22.
Sales volume during the quarter increased 11.5% to 6.3 million tonne from 5.7 million tonne recorded in the corresponding quarter last year.
Meanwhile, the company said that its wholly owned subsidiary, Dalmia Cement Bharat has signed definitive agreements with Jaiprakash Associates (JAL) and its associates in relation to acquisition of cement capacity of 5.2 million TPA, clinker grinding capacity of 3.3 million TPA and thermal power plants of aggregate capacity of 280 megawatt for an enterprise value of Rs 3,230 crore.
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Puneet Dalmia, managing director & CEO of Dalmia Bharat said, Sustaining the strong momentum, we delivered yet another quarter of solid all-round performance. With India well positioned to be the fastest growing economy in the world and cement sector being the direct beneficiary of the same, I am excited about the opportunity that lies ahead of us.
He further added, The acquisition of the cement assets of Jaiprakash Associates in Central India is an important milestone in our journey to emerge as a Pan India cement company and reach 75 million tonne by FY27 and 110-130 million tonne by 2031. Our company is on a clear path of accelerated growth backed by a strong balance sheet and an exceptionally dedicated leadership.
Mahendra Singhi, managing director and CEO of Dalmia Cement said, On the back of a healthy volume growth and our teams' proactive cost containment measures, we have delivered double-digit revenue growth and industry leading earnings performance. We are seeing a strong demand outlook, stable cement prices and with the worst of inflation is behind us we expect profitability to gradually improve from here on.
Dalmia Bharat is the fourth-largest cement manufacturing company in India, with the current capacity pegged at 37 million tonne.
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