ZCZC
BCN-11
INDIA-CEMENTS-MANUFACTURER-EARNING
India Cements Q1 net profits slips to Rs 21.03 cr
Chennai, Aug 11, 2018 (BSS/PTI) – Leading cement manufacturer India
Cements Ltd, has recorded a slip in its standalone net profits for the
quarter ending June 30, 2018 to Rs 21.03 crore.
Noted industrialist N Srinivasan led firm had recorded net profits at Rs
26.44 crore during corresponding quarter of previous year.
For the year ending March 31, 2018, net profits of the company stood at Rs
100.62 crore, the city-based company said in a BSE filing.
Total income for the April-June quarter declined to Rs 1,366.17 crore from
Rs 1,466.75 crore registered during year ago period.
For the year ending March 31, 2018 total income of the company was at Rs
5,360.13 crore.
In a statement, the company said despite a drop in selling prices of cement
it witnessed an increase in volume coupled with stringent control on fixed
cost and selling expenses.
“The operating performance of the company during the quarter had
substantially improved with capacity utilisation (of the manufacturing
facilities) to 80 per cent as compared to 67 per cent recorded during same
quarter of previous year,” it said.
The company said the bottom line revenue had an impact of Rs 104 crore
during the quarter following the steep drop in the net plant realisation.
“Despite the lower net plant realisation and higher variable costs, with
the increase in volume and reduction in fixed cost, the company could turn
out an EBIDTA (Earnings Before Interest, Taxes, Depreciation and
Amortization) of Rs 162 crore as against Rs 191 crore in previous year”.
On the outlook for the coming quarters, the company said, “after several
years of sluggish and nil growth, the demand for cement is growing sharply on
the back of infrastructure projects, roads, dams.”
It is expected that this trend would gain momentum during the current
financial year, the statement added.
BSS/PTI/HR/1120