DCM Shriram Industries Q1 net profit declines 49%

NEW DELHI: Diversified major DCM Shriram Industries today reported a 49 per cent decline in its net profit at Rs 2.22 crore for the quarter ended June 30, 2012.

The company had reported a net profit of Rs 4.32 crore in the year-ago period, it said in a filing to the BSE.

Net sales of the company rose to Rs 253.49 crore in the first quarter of the current fiscal as against Rs 220.71 crore in the same quarter of the 2011-12 fiscal.

DCM Shriram Industries' total expenditure rose to Rs 244.17 crore in the April-June period of 2012-12 fiscal from Rs 213.39 crore in the same period of the previous fiscal.

The company is a diversified business group with operations in sugar, alcohol, organic and inorganic chemicals, drug intermediates, rayon tyrecord, shipping containers and processed cotton yarn.

Shares of the company today fell by 6.28 per cent to settle at Rs 42.55 apiece from their previous close at the BSE.