Monday, 12 August 2013

India Cements Q1 net drops 73% to Rs 17 cr on higher expenses


Hit by higher expenses, India Cements’ net profit for the April-June quarter dipped by 73 per cent to Rs 16.82 crore.

The Chennai-based cement maker had clocked net profit of Rs 62.07 crore in the same quarter a year earlier, it said in a BSE filing.

Net sales rose slightly to Rs 1,238 crore from Rs 1,201 crore a year ago.

However, total expenses were up to Rs 1,115 crore from Rs 993 crore. It consumed power and fuel worth Rs 330 crore from Rs 288 crore a year earlier.

India Cements’ consumed raw material cost also went up to Rs 159 crore compared to Rs 137 crore a year earlier.

Finance costs also rose to Rs 100 crore from 95 crore a year ago.

Shares of the company were trading at Rs 43.25 apiece, down 3.46 per cent in afternoon trade in the BSE.

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