The Hindu Business Line : DCM Shriram net zooms to Rs 80 cr

New Delhi, June 3 DCM Shriram Consolidated Ltd (DSCL) has reported a nearly 11 times jump in profits after tax (PAT), from Rs 7.48 crore to Rs 80.75 crore for the quarter ended March 31, 2009.

The same period has also seen an 18 per cent increase in net operating income, from Rs 621.97 crore to Rs 734.41 crore, according to a company statement issued here on Wednesday.

For the fiscal as a whole, DSCL registered a consolidated PAT of Rs 122.61 crore on a net operating income of Rs 3,534.11 crore, while it posted a loss of Rs 1.31 crore on a net operating income of Rs 2,604.01 crore for the year ended March 31, 2008.

On a standalone basis (which excludes the company’s bio-seed business), the company posted a profit of Rs 101.79 crore on income of Rs 3,416.16 crore for the year against a loss of Rs 3.03 crore on income of Rs 2,513.63 crore in the previous year.

The agri-business segment contributed Rs 1,838 crore or 53 per cent of the company’s revenues and Rs 137 crore of its profits before interest and tax during 2008-09. This included Rs 800 crore from fertilisers, Rs 610 crore from sugar and Rs 380 crore from agri-inputs. The bio-seed business (which is a separate subsidiary) recorded revenues of Rs 157 crore and profits of Rs 30 crore.

The chloro-vinyl business, comprising chlor-alkalis, PVC resin and power returned a turnover of Rs 841 crore and profit before interest and tax of Rs 198 crore during the just ended fiscal, the statement added.

The Chairman of DSCL, Mr Ajay S. Shriram, told Business Line that he was bullish on the company’s fertiliser business, following availability of gas from the Krishna-Godavari fields. The gas is being delivered to DSCL’s Kota plant in Rajasthan at $6.8 per mmbtu, which is lower than the $11-12 price at which naphtha would now cost in the market.

More Stories on : Financial Performance | Diversified

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page