Rain Commodities net up 10 per cent

Hyderabad-based Rain Commodities Limited (RCL), engaged in manufacturing and sale of cement and calcined petroleum coke, posted a net profit of Rs 443.8 crore for the year ended December 2009, an increase of 9.9 per cent compared with the previous year’s Rs 403.8 crore. Net revenues, however, declined 18.4 per cent to Rs 3,633.8 crore from Rs 4,454.7 crore in the previous year.

RCL stated that despite decline in revenue it was able to report a higher net income due to stabilisation of brownfield expansion of cement capacity in Kurnool, exceptional profit from sale of investments in Kuwait JV, repayment of debt and reduction in interest cost.