DCM Shriram's Q2 Profits Soar by 95.16% Amid Strategic Investments

DCM Shriram Ltd reported a 95.16% increase in net profit for Q2 of fiscal 2024-25, reaching Rs 62.92 crore. Total income rose by 11.81%, while expenses increased by 10.29%. The company's board approved major investments in renewable energy and aluminium chloride projects to drive future growth.

DCM Shriram Ltd has reported an impressive 95.16% increase in its consolidated net profit for the second quarter of fiscal 2024-25. The profit soared to Rs 62.92 crore from Rs 32.24 crore during the same period last year, according to a recent regulatory filing.

The company's total income rose by 11.81% to Rs 3,183.98 crore in Q2 FY25 from Rs 2,847.42 crore a year earlier. Concurrently, expenses climbed 10.29% to Rs 3,088.21 crore.

The board has approved a strategic equity investment of up to Rs 60 crore for a stake in SPVs to develop a 68 MW wind-solar hybrid project. Additionally, they sanctioned significant capital expenditure for projects in Rajasthan and Gujarat to enhance their aluminium chloride and extrusion capabilities.

(With inputs from agencies.)