Rain Commodities back in the black

Rain Commodities, a Hyderabad-based diversified firm having presence in cement and carbon products, has posted a consolidated net profit of Rs 170 crore for the quarter ended September compared with a net loss of Rs 43.95 crore in the corresponding previous quarter.

Its net sales during the period doubled to Rs 1,312.73 crore against Rs 635.17 crore last year. However, on a standalone basis, the company’s cement business took a hit during the quarter, with net profit plunging by 44.82 per cent to Rs 20.08 crore compared with Rs 36.39 crore last year.

Its net sales grew to Rs 252.94 crore during the period against Rs 149.06 crore, up 70 per cent. On the Bombay Stock Exchange, the company’s share price closed on Friday at Rs 111.05, down 15.71 per cent.