Dalmia Bharat witnessed a robust performance in Q3, with its shares gaining 2.8 percent on January 25 following the release of financial results. The cement manufacturing giant reported an impressive 22.2 percent year-on-year growth in net profit, reaching Rs 266 crore for the quarter ended December.
During the morning trade at 9:30 am, the company’s shares were valued at Rs 2,198.05, marking a 2.01 percent increase on the NSE compared to the previous session’s closing price.
Dalmia Bharat’s revenue from operations exhibited a sturdy growth of 7.3 percent, reaching Rs 3,600 crore in comparison to the same period last year. The company’s EBITDA for the quarter saw a substantial 20.3 percent surge, touching Rs 775 crore. Impressively, the EBITDA per tonne witnessed a notable 11.3 percent increase to Rs 1,138 compared to the corresponding period of the previous fiscal year.
Despite concerns about demand weakness in the eastern region, which is a key market for Dalmia, the company outperformed expectations with a remarkable volume growth of around 8 percent on-year. This exceeded earlier estimates of 5 percent, as commentary from industry peers and dealers had hinted at significant challenges in the demand scenario.