Madras Cements today reported 19.85% increase in net profit for the July-September quarter at Rs 132.89 crore on higher sales.
The Chennai-based cement maker had clocked Rs 110.88 crore net profit in the corresponding quarter last year.
Net sales of the company rose to Rs 999.46 crore in the quarter, from Rs 818.99 crore during the July-September quarter of the last fiscal, it said in a BSE filing.
The competition watchdog CCI had imposed a penalty of Rs 258.63 crore in July on Madras Cements for its alleaged involvement in forming cartelisation.
"The company has filed an appeal against the order before the Competition Appellate Tribunal and interim order was passed that no coercive steps should be taken for recovery of penalty," it said.
Shares of the company were trading at Rs 202.80 apiece in afternoon on the BSE, down 1.07% over the previous close.
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