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DCM Shriram Industries Ltd on Monday posted a sharp decline in consolidated net profit at Rs 93 lakh during the second quarter of the 2022-23 fiscal on higher expenses.

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The company had posted a net profit of Rs 12.64 crore in the same quarter previous financial year, according to a regulatory filing.

The total income rose on a consolidated basis to Rs 532.70 crore in the July-September quarter of the 2022-23 fiscal, from Rs 487.74 crore in the year-ago period.

However, expenses remained higher at Rs 534.74 crore, as against Rs 475.55 crore in the said period a year ago.

The company is engaged in the business of sugar, chemicals and industrial fibers and related products. PTI LUX DRR

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