Coal news and updates

Dalmia Bharat FY16 net sharply rises to Rs 265.34 cr

Cement major Dalmia Bharat Limited informed the Bombay Stock Exchange (BSE) that its consolidated net profit stood at Rs 265.34 crore in 2015-16 (FY16), a sharp rise from a net loss of Rs 63.09 crore in 2014-15, on account of a rise in income from operations.

Dalmia Bharat sold 12.80 million tons (mt) cement in FY16, up 19% from 10.79 mt in the previous year. As a result, total income of the company stood at Rs 6,437.95 crore in FY16, nearly double from Rs 3,514.12 crore in FY15.

The company admitted that from the second half of FY16, it witnessed improved cement demand.
 

The release further added that rural demand will gain momentum because of infrastructure growth. 

Apart from that, reduction in cost also helped to achieve a higher profit. Because of improve capacity utilisation the fixed cost reduced by 15% y-o-y. The company reported a lowest-ever variable cost because of drop in fuel price. 

During January to March, 2016, the net profit of the company stood at Rs 160.44 crore, increased manifold from Rs 27.33 crore during the same period of the previous year.