BackIndia Cements March quarter profit rises 40% to Rs51.21 crore
India Cements' total income during the quarter stood at `1,154 crore, against `1,043 crore a year ago
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Hyderabad: Cement maker India Cements Ltd on Thursday said net profit in the March quarter rose 40% from 36.60 crore a year ago to 51.21 crore, on stable prices and better operating performance.
Total income during the quarter stood at 1,154 crore, against 1,043 crore a year ago. “The net plant realization in this quarter dipped by 5% resulting in an Ebitda (earnings before interest, taxes, depreciation and amortization) of 218 crore against 200 crore in the same quarter of the previous year," the company said in a statement.
Volume during the quarter was 24.03 lakh tonnes, against 19.98 lakh tonnes in the corresponding quarter previous year.
Interest charges, the company said, were lower at 91 crore against 104 crore in the previous year, while depreciation was at 52 crore, against 59 crore.
For the full year, the consolidated net income of the company fell 4% at 4,890 crore against 5,083 crore last fiscal year. The net profit in this period was reported at 134 crore, against a loss of 1 crore last year.
“Since February 2016, core sector was on a recovery mode and the cement industry is slowly coming out of the long down cycle that had forced it to post a single digit growth since 2010-11," the company said.
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