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India Cements records 3qtr net at Rs 15.24 Cr

Press Trust of India  |  Chennai 

India Cements today reported standalone net profits at Rs 15.24 crore for the third quarter ending December 31, 2017 which was one of the 'most challenging quarters', a top said.

The city-based company had registered net profits at Rs 35.34 crore during corresponding quarter of previous year.

For the nine month period ending December 31, 2017 net profits of the company stood at Rs 65.35 crore as against Rs 141.73 crore registered during year ago period.

The financial statement for third quarter and for nine month ending December 31, 2017 include those of the merged entities of Ltd and Trishul Concrete Products Ltd with

The figures for the corresponding quarter of the previous financial year and nine month ending December 31, 2017 do not consider of merged entities and are not comparable.

Commenting on financial performance, company Vice Chairman and Managing Director, told reporters that "third quarter (ending December 31, 2017) was most challenging quarter".

It was due to "high fuel costs", uncertainty on pet coke usage and poor sales in which is a main market for the maker.

To a query, he said, market was much better in terms of demand for

said witnessed good demand for cement due to road development programme announced by the government there. "The demand is extremely good (in Maharashtra)", he said.

On net plant realisation, he said, it was Rs 3,275 as against Rs 3,475 in sequential quarter of last year.

The drop in NPR on account of limited in South was "single contributory factor" for the sub optimal performance during the quarter under review, a company official said.

On the outlook, said economic activity was expected to re-bound with the pick-up in global growth and trade.

While there are getting over the weak off-take in coming quarters, it continues to face cost pressure from rising input costs, he said.

The overall sales volume including exports was 27.26 lakh tonne, he said.

saw a growth of only six per cent during the third quarter ending December 31, 2017, he said. He said was expected to clock double digit growth in 2019-20.

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

First Published: Fri, February 09 2018. 19:10 IST