India: Dalmia Bharat's consolidated sales were US$433m in the third quarter of the 2024 financial year (1 October – 31 December 2023), up by 7.3% year-on-year. This was in part due to an 8.1% rise in the company’s cement sales volumes, amid a nationwide infrastructure spending drive. Its net profit rose by 22% year-on-year to US$32m. The producer partly attributed this to a market correction in the price of raw materials. Premium products accounted for 21% of Dalmia Bharat’s cement sales during the quarter.
Managing director and CEO Puneet Dalmia said “While we believe that margins may improve further from here on, our focus for the next 12 – 15 months will remain on improving our capacity utilisation and delivering industry-leading volume growth.”