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Wednesday, Jul 26, 2006

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Corporate Results - Diversified
DCM Shriram Consolidated net down 22 pc

Our Bureau

New Delhi , July 25

DCM Shriram Consolidated Ltd on Tuesday reported a profit after tax (PAT) of Rs 30.1 crore for the first quarter of 2006-07, down 22 per cent compared to the PAT of Rs 38.6 crore recorded in the corresponding quarter last year.

The company's net sales went up by around 17 per cent to Rs 680.50 crore (Rs 584.1 crore). The operating profit decreased marginally to Rs 81.4 crore, from Rs 81.7 crore in the corresponding period of the previous fiscal.

Commenting on the performance for the quarter in a joint statement, Mr Ajay Shriram, Chairman and Senior Managing Director, and Mr Vikram Shriram, Vice-Chairman and Managing Director, said, "We are pleased to report an operationally good quarter under tough business environment with our recently enhanced capacities making optimal contributions and our value-added businesses showing encouraging performances."

"We expect to deliver an operationally good performance for the full year as well, with further capacity enhancements in sugar, Fenesta Building systems and PVC resin businesses," they said.

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