Dalmia Cement posts 369% increase in net profit

New Delhi, July 28 (UNI) Dalmia Cement today posted a whopping 369 per cent increase in its net profit at Rs 50.28 crore for the quarter ended June 30, 2006, as against Rs 10.72 crore in the corresponding quarter last year.

The sales growth of the company for the quarter also rose 54 per cent up at Rs 232.48 crore, as Earnings Per share (EPS) registered 332 per cent increase at Rs 12.10 per share as against Rs 2.80 per share over the corresponding quarter last year, a company statement said.

The company has scaled up its cement capacity from 1.5 million metric tonnes (MMT) to 3.5 MMT post successful implementation and commissioning of the brown field expansion at Dalmiapuram. With the current expansion, the company is confident of doubling their turnover to Rs 1,200 crore in the current fiscal year. The company hopes to increase the cement capacity to 10 MMT.

The company has embarked on agressive growth in sugar and is in the process of building new sugar plants alongwith cogen power plant and ethanol plant, which are expected to be commissioned by December this year, the statement added.

On the anvil is expansion of sugar crushing capacity in Uttar Pradesh by 15,000 tonnes a day, taking the total crushing capacity to 22,500 tonnes, it said. Sugar production capacity will go up to 3 lakh tonnes as a result of this expansion.

The company plans to set up an 80 KL per day distillery to produce ethanol from the molasses generated from the sugar plant and also setting up three cogen plants generating 79 MW of power.

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