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India Cements Q4 profit up 24% at Rs 44 crore on improved prices

Capacity utilisation improved to 84 per cent in Q4 from 79 per cent in the same period previous year

T E Narasimhan  |  Chennai 

Cement

Ltd reported a profit of Rs 43.85 crore during the fourth quarter ended March 31, 2019 (Q4), compared to Rs 35.27 crore in the year ago period, aided by the improved selling prices for cement and increased volumes. Total revenue also increased to Rs 1,581.38 crore from Rs 1401.73 crore.

The increase in (NPR), along with improved volumes, resulted in a higher of Rs 210 crore in Q4, compared to Rs 162 crore in the same quarter of the previous year, said N Srinivasan, vice chairman and managing director,

Capacity utilisation improved to 84 per cent in Q4 from 79 per cent in the same period previous year. For the entire financial year 2018-19, capacity utilisation improved to 79 per cent from 71 per cent in the previous year.

“Going forward, we expect a good demand for cement to continue in the coming quarters. During the fourth quarter, per tonne increased to Rs 629 from Rs 470 per tonne in the third quarter. We expect it to be better in the first quarter of current year,” he said.

The NDA government is on the right track. Certainly, it will continue to be pro-development. "We expect the government to continue thrust on infrastructure development and housing”.

Referring to the government in Andhra Pradesh, he said “Jagan Reddy is a pro- development person. I expect the cement demand in the state to be better in the coming years. Like his father, Y S R Reddy, the new Government is also expected to implement special housing schemes. Similarly, I expect good demand in Telengana with the government implementing big ticket irrigation projects”.

First Published: Sun, May 26 2019. 11:44 IST
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