DCM Shriram’s Q3 profit up 56% at Rs213 crore
New Delhi: DCM Shriram has reported a 56% jump in its net profit at Rs213 crore in the third quarter ending December 2017.
The profit after tax was Rs137 crore in the October-December quarter of 2016-17. Net revenues stood at Rs1,784 crore in the third quarter of the current fiscal as compared to Rs1,365 crore a year earlier, it said in a statement.
In the chemical vertical, the company said volumes gain was of 34% on account of full utilisation of expanded capacities at Bharuch, supported by firm prices.
In sugar segment, volumes were up 19% on account of early commencement of season, among other reasons.
DCM Shriram’s gross debt as on 31 December, 2017 stood at Rs631 crore compared to Rs964 crore as on 31 December, 2016.
“Cash and cash equivalents stood at Rs454 crore versus Rs190 crore for the same period,” it said.
Its shares closed at Rs568.30 apiece on BSE, up 0.38 over the previous trading day.
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