Dalmia Bharat Limited (NSE: DALBHARAT) shares declined nearly 4% today after the company released its second-quarter financial results for FY24, reflecting a challenging performance. As of 10:47 AM, the stock was trading 3.12% lower at ₹1,794.35 on the NSE, following a significant drop in both revenue and profit.
For the quarter ending September 30, 2024, Dalmia Bharat reported a 15% quarter-on-quarter (QoQ) drop in revenue, with total revenue from operations coming in at ₹3,087 crore. This marks a 2% year-on-year (YoY) decline from ₹3,153 crore in Q2 FY23, further intensifying concerns about the company’s top-line performance.
The net profit for Q2 FY24 fell sharply by 66% QoQ to ₹49 crore, down from ₹145 crore in Q1 FY24, and also down 60% YoY from ₹123 crore in Q2 FY23. The weak performance is attributed to rising operational costs and other business challenges that have weighed on the company’s margins.
Investors reacted negatively to the results, sending the stock into decline as they weigh the broader implications for Dalmia Bharat’s near-term growth prospects.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Please consult a financial advisor before making any investment decisions.
