Dalmia Bharat shares fall 6% as Q4 profit declines

Shares of cement maker Dalmia Bharat fell 6% on Thursday after the firm reported earnings for the quarter ended March 2024. Net profit declined 47% to Rs 320 crore in Q4 against Rs 609 crore in the March 2023 quarter.

Dalmia Bharat stock slipped to Rs 1842.55 against the previous close of Rs 1959.20.

Market cap of the firm fell to Rs 34,453 crore on BSE. The stock of the firm has rallied over 16% in the last two years. The share has climbed 22.16% in 2024.

Total 0.64 lakh shares of the firm changed hands amounting to a turnover of Rs 11.94 crore on BSE.

In terms of technicals, the relative strength index (RSI) of the Dalmia Bharat stock stands at 47.9, signaling it's neither trading in the overbought nor in the oversold zone.

Dalmia Bharat shares have a beta of 0.9, indicating low volatility in a year. Dalmia Bharat shares are trading lower than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The company attributed the decline in profit to a drop in prices. Revenue from operations climbed 10% to Rs 4,307 crore against Rs 3,915 crore in the year-ago period.

At the operating level, Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) slipped 16% to Rs 654 crore against Rs 779 crore in the previous quarter. EBITDA margin stood at 15.2% in last quarter against 18.07% in the year-ago period.