DCM Shriram Industries announced a 23% increase in consolidated net profit to Rs 38.64 crore for the fourth quarter of the fiscal year 2023-24, compared to Rs 31.53 crore in the same period of the previous fiscal year, as per a regulatory filing.
Total income for the January-March quarter of 2023-24 decreased to Rs 516.61 crore from Rs 541.58 crore a year earlier. However, expenses were lower at Rs 461.75 crore compared to Rs 493.60 crore in the same period.
For the full fiscal year 2023-24, DCM Shriram Industries reported a significant 92% jump in consolidated net profit to Rs 115.39 crore, up from Rs 60.16 crore in the previous fiscal year.
The company’s board decided not to recommend a final dividend in order to conserve resources for debt servicing and expected capital expenditure.