India Cements Friday reported 93.95 per cent drop in standalone net profit at Rs 1.43 crore during the quarter ended September 2018.
The company had reported a net profit of Rs 23.67 crore in the same quarter of the previous fiscal.
Total income of the company stood at Rs 1,390.84 crore during second quarter of 2018-19 fiscal. It was Rs 1,274.9 crore in the year-ago period, India Cements said in a BSE filing.
The company said due to introduction of GST from July 1, 2017, as the excise duty is subsumed under GST, the said income and expenditure from July 1, 2017 are net of GST and hence not comparable.
Expenses during the quarter under review were at Rs 1,389.41 crore. It was Rs 1,238.7 crore in the corresponding period a year ago.
Shares of India Cements were trading 3.57 per cent higher at Rs 97.30 apiece on the BSE.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app