 "DCM Shriram Q2 results: Net profit jumps 95% to Rs 62.92 cr on strong sales")
DCM Shriram Ltd reported a 95.16 per cent increase in consolidated net profit at Rs 62.92 crore in the second quarter of fiscal 2024-25, compared to Rs 32.24 crore in the same period a year earlier.
In a regulatory filing, the company said its total income rose 11.81 per cent to Rs 3,183.98 crore in Q2 FY25 from Rs 2,847.42 crore in the year-ago quarter.
Expenses increased 10.29 per cent to Rs 3,088.21 crore.
The company's board approved an equity investment of up to Rs 60 crore for up to 28 per cent stake in one or more SPVs to set up a 68 MW wind-solar hybrid renewable power project.
It approved a capex (capital expenditure) of Rs 23 crore for the renewable power project in Kota, Rajasthan.
The board approved a capex of Rs 310 crore to set up a 100 TPD aluminium chloride facility and a 225 TPD granulated calcium chloride facility at Jhagadia, Bharuch.
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That apart, it approved a capex of Rs 149 crore for an aluminium extrusion and surface finish project at Kota.
The company is also setting up a repackaging unit in Europe to cater to aluminium chloride customers in that market.