DCM Shriram's Q3 profit up 56 pc at Rs 213 cr

DCM Shriram has reported a 56 per cent jump in its net profit at Rs 213 crore in the third quarter ending December 2017.

The profit after tax was Rs 137 in the October-December quarter of 2016-17.

Net revenues stood at Rs 1,784 crore in the third quarter of the current fiscal as compared to Rs 1,365 crore a year earlier, it said in a statement.

In the chemical vertical, the company said volumes gain was of 34 per cent on account of full utilisation of expanded capacities at Bharuch, supported by firm prices.

In sugar segment, volumes were up 19 per cent on account of early commencement of season, among other reasons.

DCM Shriram's gross debt as on December 31, 2017 stood at Rs 631 crore compared to Rs 964 crore as on December 31, 2016.

"Cash and cash equivalents stood at Rs 454 crore versus Rs 190 crore for the same period," it said.

Its shares closed at Rs 568.30 apiece on BSE, up 0.38 over the previous trading day.