DCM Shriram Q1 net at Rs 4.87 cr

New Delhi, Aug 1: Aided by higher volumes and better margins in chemicals, plastics and agricultural input verticals, diversified DCM Shriram Consolidated Ltd said it has registered a net profit of Rs 4.87 crore for the quarter ended June 2008 from an year-ago loss of Rs 7.77 crore.

The realisations as well as margins in chemicals and plastics businesses are expected to remain healthy, a company statement said. Net sales rose 28.7 per cent to Rs 793 crore during Q1 FY09 compared to the corresponding quarter last year. ''Improved margins in plastics and chemicals enabled us to tide over the challenging environment in the sugar business and rising financial charges,'' company CMD Ajay Shriram said in the statement.

The fertiliser division, which contributes to one-fourth of its sales, saw its volumes for the quarter grow 10.6 per cent to 1,00,114 metric tonne as there was a planned shutdown in the year-ago period.

Fertiliser realisations rose 8.6 per cent to Rs 20,353 per metric tonne helped by energy efficiencies.

Its realisations in the chemicals business, which caters to aluminium, paper and soaps and contributes about 14 per cent of its revenue, rose 41 per cent to Rs 24,253 per metric tonne.

The company, which saw its revenue from retail business ''Hariyali Kisan Bazaar'' more than doubling in the quarter expects its outlets to reach 300 by end fiscal from 177 by June-end.

UNI