DCM Shriram Q4 Net up 78% at Rs 34.69 crore

NEW DELHI: DCM Shriram Consolidated Ltd (DSCL) today posted 78 per cent rise in net profit to Rs 34.69 crore for the quarter ended March 31, 2012, on the back of growth in its fertiliser, sugar and chloro-vinyl segments.

The seed and fertilisers manufacturer had reported a net profit of Rs 19.49 crore in the year-ago period, it said in a filing to the BSE.

DSCL's net sales in the fourth quarter of 2011-12 fiscal rose by 20 per cent to Rs 1,290.21 crore from Rs 1,073.37 crore in the same quarter of the last fiscal.

In the 2011-12 fiscal, the company's net profit rose by 63 per cent to Rs 174.48 crore from Rs 106.72 crore in the previous fiscal.

Net sales rose by 21 per cent to Rs 4,923.67 crore as compared to Rs 4,066.24 crore in the period under review.

The company reported gains in its fertiliser, sugar, cement and chloro-vinyl business, whereas, its farm solutions and bioseeds segments reported losses.

Its rural retail initiative, Hariyali Kisaan Bazaar, suffered losses due to due to outlets shutdown expenses, mark to market losses in the commodity/seed business along with slower sales growth than desired.

The company is a diversified group with operations in sugar, alcohol, fertilisers, cements, chloro-vinyl, organic and inorganic chemicals, rayon tyrecord, etc.

Shares of the company today fell by 1.36 per cent to settle at Rs 40 a piece on the BSE.