Cement-maker India Cements today reported a decline of around 83 per cent in net profit to Rs 24.98 crore for the quarter ended June on account of a fall in income and an increase in raw material and freight costs.
The Chennai-based firm had reported a Rs 144.28 crore net profit for the quarter ended June, 2009, it said in a filing to the Bombay Stock Exchange.
Total income of the company fell by 8 per cent to Rs 882.79 crore during the quarter under review vis-a-vis Rs 960.25 crore in the year-ago period.
The company consumed raw material worth Rs 138.7 crore during the quarter compared to Rs 112.28 crore in the same quarter last fiscal. Furthermore, expenditure on transportation increased to Rs 183.82 crore from Rs 130.83 crore.
In a separate communique, the company appointed Rupa Gunnath as a whole-time director on its board for a period of five years with effect from March 5, 2010.
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