Mixed fortunes for cement firms

CORPORATE SCORECARD

A sharp increase in tax incidence resulted in India Cements’ net profit declining by 22 per cent during the first quarter of FY09 at Rs 142.14 crore as compared with Rs 183.40 crore for the comparative period last year.

Madras Cements, another Chennai-based cement company, reported a 13 per cent increase in net profit during the period at Rs 113.97 crore (Rs 100.56 crore).