The company has declared a final dividend at the rate of Rs 5 (250 percent) per equity share on 18,74,80,361 equity shares of Rs 2 each for the financial year ending March 31, 2023. Shares of Dalmia Bharat Ltd ended at Rs 1,920.30, down by Rs 9.40, or 0.49 percent on the BSE.
Cement maker Dalmia Bharat Ltd on Tuesday, April 25, said the company has reported a 121 percent year-on-year (YoY) jump in net profit at Rs 589 crore for the fourth quarter that ended March 31, 2023.
Also, the company received a profit of Rs 529 crore from Dalmia Bharat Refractories Ltd, a joint venture, for the quarter ended March 31, 2023.
In the corresponding quarter last year, the company posted a net profit of Rs 266 crore. CNBC-TV18 Polls had predicted a profit of Rs 301 crore for the quarter under review.
In the March quarter, total revenue stood at Rs 3,912 crore during the period under review, up 15.7 percent against Rs 3,380 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 3,844 crore for the quarter under review.
At the operating level, the EBITDA jumped 3.5 percent to Rs 707 crore in the fourth quarter of this fiscal over Rs 683 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 18.1 percent in the reporting quarter compared to 20.2 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Further, Dalmia Cement (Bharat) Ltd, a subsidiary of the company, entered into a binding agreement to sell its entire investment of 1,87,23,743 equity shares of Rs 10 each (42.36 percent of share capital) of Dalmia Bharat Refractories Ltd at a consideration of Rs 800 crore to Sarvapriya Healthcare Solutions Private Ltd, a promoter group company.
Puneet Dalmia, Managing Director and CEO of Dalmia Bharat, said the company saw industry-leading volume and revenue growth of 15.9 percent and 20 percent year-on-year, respectively.
The company has recommended a final dividend at the rate of Rs 5 (250 percent) per equity share on 18,74,80,361 equity shares of Rs 2 each for the financial year ending March 31, 2023.
The results came after the close of the market hours. Shares of Dalmia Bharat Ltd ended at Rs 1,920.30, down by Rs 9.40, or 0.49 percent on the BSE.