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Hyderabad-based cement manufacturing company Orient Cements Limited reported over three-fold rise in net profit at Rs 85.47 crore for the quarter ended March, 2015, helped by lower expenditure and differed tax adjustments. The net profit for the corresponding quarter last year was Rs 26.34 crore.
Total income during the quarter under review marginally declined at Rs 397.19 crore as compared with Rs 402.43 crore in the corresponding previous quarter. Expenditure declined 14.16 per cent to Rs 308.27 crore from Rs 359.1 crore in the year ago period.
For the full year ending March, 2015, net profit stood at Rs 194.78 crore as compared with Rs 101 crore last year. “Our focus on optimising operational costs and growing our share in core markets has helped us deliver these robust numbers. We have recorded volume of 990,000 tonnes in the fourth quarter representing capacity utilisation of close to 80 per cent, one of the highest in the industry,” Deepak Khetrapal, MD and CEO of Orient Cement, said.
