Mangalam Cement & Chettinad Cement Q3 results

Rajasthan-based Mangalam Cement, a part of the B K Birla group, has posted a drop of 33.61 per cent in its net profit for the quarter ended December 2008 to Rs 17.09 crore, compared to Rs 25.74 crore in the corresponding period last year. The company’s net sales during the period stood at Rs 141.18 crore against Rs 121.03 crore, up 16.65 per cent.

Poor demand growth in the earlier part of the quarter in the northern region with less realisation dented the profit of the company. The consumption on raw materials in the period increased by 23.82 per cent to Rs 22.09 crore. Earning per share for the December quarter was Rs 6.05 against Rs 9.11. On the Bombay Stock Exchange, the company’s share price closed strong on Tuesday at Rs 48.95, up 3.38 per cent. 

Chettinad Cement net dips 60%

Mumbai: Chettinad Cement has posted a dip of 60.46 per cent in its net profit for the quarter ended December 31, 2008, to Rs 16.39 crore compared with Rs 41.45 crore in the corresponding quarter in the previous year. The company’s net sales during the period grew to Rs 259.67 crore from Rs 237.64 crore, up 9.27 per cent.