DCM Shriram on Tuesday posted a 33.2 per cent increase in consolidated net profit to Rs 159 crore for the second quarter of 2021-22 on strong sales.
The company's net profit stood at Rs 119 crore in the same quarter of the previous fiscal, according to a regulatory filing.
Total income rose on a consolidated basis to Rs 2,198.61 crore during July-September quarter from Rs 2,064.61 crore in the year-ago period. Expenses remained higher at Rs 1,970 crore as against Rs 1,910.48 crore in the said period.
The company's consolidated PBDIT (profit before depreciation, interest and taxes) rose 29.9 per cent to Rs 311 crore in the second quarter of 2021-22 from Rs 240 crore in the year-ago period. Finance cost reduced to Rs 23 crore from Rs 26 crore in the said period.
Ajay Shriram, Chairman and Senior Managing Director, DCM Shriram, said the business environment remains disruptive despite relative normalization of Covid-19 during the quarter, given the global supply chain constraints led by climate induced factors, geo-political reasons and Covid-19.
"Our Chloro-vinyl businesses have performed better given the improved demand as well as price scenario. However with the global increase in energy prices as well as other key inputs, the cost press.
ICICI Securities
ICICI Securities on Tuesday reported a 26 per cent jump in profit after tax to Rs 351 crore in the three months ended September 2021 on account of growth in revenue and improvement in margins.
In comparison, the company had posted a profit after tax (PAT) of Rs 278 crore in the same quarter preceding fiscal, ICICI Securities, a subsidiary of ICICI Bank, said in a statement.
The company's revenue rose to Rs 857 crore in the second quarter ended September 30, 2021 from Rs 680 crore in the same period preceding the financial year.
The company has attributed the growth in revenues to strong all-around performance across business segments.
"Our strategy of broad basing our customer acquisition engine is paying off and I am happy to report highest ever quarterly customer addition yet again this quarter," ICICI Securities Managing Director and Chief Executive Officer Vijay Chandok said.
HeidelbergCement India
HeidelbergCement India Ltd on Tuesday reported a 4.55 per cent decline in its net profit to Rs 59.56 crore for the second quarter ended September 2021 on account of increased operating cost.
The company had reported a net profit of Rs 62.4 crore in the July-September quarter of the last year, HeidelbergCement India said in a BSE filing.
Its revenue from operations was up 11.03 per cent to Rs 569.24 crore during the quarter under review as against Rs 512.69 crore in the year-ago quarter.
"Total operating cost (incl. freight) per tonne increased by 6.7 per cent y/y mainly due to significant increase in fuel, packaging and diesel costs," the company said in a post earning statement.
HeidelbergCement India total expenses were at Rs 49,942 crore, up 16.35 per cent in Q2/FY 2021-22, as against Rs 42,923 crore.
According to the company, its sales volume was up 11.1 per cent to 1,231 KT during the quarter as against 1,108 KT of the corresponding quarter.
"Volume increased by 11% y-o-y whereas average selling price remain flattish," said HeidelbergCement India, a subsidiary of HeidelbergCement Group, Germany.
(With PTI Inputs)
