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B K Birla Group company Mangalam Cement posted a Rs 2.4 crore loss for the third quarter on higher finance costs, even as it announced setting up of a half a million tonne per annum new grinding unit at Aligarh.
The cement maker had clocked Rs 0.47 crore net profit in the October-December quarter of the last fiscal, it said in a BSE filing.
Total income of the company rose to Rs 213.34 crore from Rs 161.62 crore during the period under review. Expenses also rose to Rs 212.74 crore from Rs 174.51 crore a year earlier.
Mangalam Cement consumed raw material worth Rs 41 crore, up from Rs 28 crore during the period a year ago. Finance costs went up to Rs 10.62 crore from Rs 2.31 crore during the corresponding period of previous fiscal.
In a separate filing, the company said its Board, at the meeting held today, approved setting up of a new grinding unit at Aligarh with a capacity of 0.50 mtpa.
