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Dalmia Bharat At Over One-Month Low After Q4 Profit Declines

However, Dalmia Bharat's net profit beat analysts' estimates during the fourth quarter.

<div class="paragraphs"><p>(Source: Unsplash)</p></div>
(Source: Unsplash)

Shares of Dalmia Bharat Ltd. fell on Thursday to the lowest in over a month after the company's fourth-quarter profit fell. The cement producer's consolidated net profit dropped 48% to Rs 320 crore in the January–March period, compared to Rs 609 crore in the same period last year, according to an exchange filing.

Dalmia Bharat Q4 FY24 Highlights (Consolidated, YoY)

  • Revenue up 10% at Rs 4,307 crore vs Rs 3,915 crore (Bloomberg estimate: Rs 4,174 crore).

  • Ebitda down 7.9% at Rs 654 crore vs Rs 710 crore (Estimate: Rs 803.3 crore).

  • Margin at 15.18% vs 18.13% (Estimate: 19.2%).

  • Net profit down 48% at Rs 320 crore vs Rs 609 crore (Bloomberg estimate: Rs 295 crore).

Dalmia Bharat At Over One-Month Low After Q4 Profit Declines

Shares of Dalmia Bharat fell as much 6% during the day on the NSE to the lowest since March 14. It was trading 5.33% lower at 10:42 a.m., compared to a 0.17% advance in the benchmark Nifty 50.

The stock has declined 3.27% in the last 12 months and 18.69% on a year-to-date basis. The total traded volume so far in the day stood at 6.5 times its 30-day average. The relative strength index was at 33.65.

Twenty-eight out of the 33 analysts tracking the company have a 'buy' rating on the stock, two recommend 'hold' and three suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 33%.

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