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India Cements Q2 net plunges 94 pc to Rs 1.43 cr

Press Trust of India  |  New Delhi 

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, said in a 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 were trading 3.57 per cent higher at Rs 97.30 apiece on the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 13:20 IST