DCM Shriram Industries reported a 23% increase in consolidated net profit for the fourth quarter of the 2023-24 fiscal year, reaching Rs 38.64 crore compared to the same period last year, thanks to reduced expenses. The company, operating in sugar, industrial fiber, and chemicals sectors, disclosed a net profit of Rs 31.53 crore in the corresponding quarter of the previous fiscal year.
Although total income dipped to Rs 516.61 crore in the January-March quarter of 2023-24, down from Rs 541.58 crore in the prior year, expenses also decreased to Rs 461.75 crore from Rs 493.60 crore during the same period.
For the entire fiscal year 2023-24, DCM Shriram Industries witnessed a significant 92% surge in consolidated net profit, amounting to Rs 115.39 crore, compared to Rs 60.16 crore in the preceding fiscal year. In light of the necessity to prioritize resource conservation for debt servicing and anticipated capital expenditure, the company’s board opted not to recommend a final dividend.
