OCL India clocks Rs 32 cr net profit in Jan-March quarter

Helped by higher income and savings on costs, OCL India, earlier known as Orissa Cement, today reported Rs 31.76 crore net profit for the January-March quarter.

The Odisha-based cement maker, having a current installed capacity of 5.35 million tonnes per annum, had clocked Rs 26.51 crore loss in the corresponding quarter last fiscal, it said in a statement.

Total income of the company rose to Rs 486.04 crore from Rs 341.23 crore a year ago, showing a growth of 42% driven by higher sales realisation and improved operational efficiencies.

Expenses, however, declined to Rs 431.78 crore from Rs 371.37 crore a year ago.

For the full year 2012-13, OCL India's net profit stood at Rs 156.39 crore on a total income of Rs 1,817.29 crore.

Shares of the company today settled at Rs 150.65 apeice, up 3.72% in the BSE.