DCM Shriram Ltd., a chlor-alkali and chloro-vinyl manufacturer based in India announced its results for the first quarter ended June 30, 2021.
Q1 Results- QoQ
The company’s net profit declined 32% to Rs 157.5 crores ($21.1 million) for the period ended June 30, 2021 as against net profit of Rs 231.24 crores ($31 million) for the previous quarter.
Net sales dropped 9% to Rs 2025.11 crores ($271.4 million) during the period ended June 30, 2021 as compared to Rs 2221.42 crores ($297.7 million) during the previous quarter.
Q1 Results- YoY
The company’s net profit grew 125% to Rs 157.5 crores ($21.1 million) for the period ended June 30, 2021 as against net profit of Rs 70.1 crores ($9.4 million) for the prior-year quarter.
Net sales increased 4.5% to Rs 2025.11 crores ($271.4 million) during the period ended June 30, 2021 as compared to Rs 1938.44 crores ($259.8 million) during the prior-year quarter.
Q1 sales from its chloro-vinyl business grew by 90% to Rs 598.4 crores ($80.2 million) during the quarter against Rs 315.6 crores ($42.3 million) during prior year quarter.
“The performance during the quarter was robust despite the challenges of second wave of Covid-19. Our businesses have shown resilience to the disruptions caused by the pandemic and have continued to operate at normal levels. The overall economic activity in the country was significantly better than the same period last year, enabling better performance,” Ajay Shriram, Chairman and Senior Managing Director, said in a statement.