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India Cements Q1 net falls 73 per cent to Rs 17 cr

The Chennai-based cement maker posted a profit of Rs 16.82 crore in the first quarter against Rs 62.07 crore in the same quarter a year earlier.

twitter-logo PTI   New Delhi     Last Updated: August 12, 2013  | 18:38 IST

India Cements has reported a 73 per cent decline in net profit for the April-June quarter hit by higher expenses.

The Chennai-based cement maker posted a profit of Rs 16.82 crore in the first quarter against Rs 62.07 crore in the same quarter a year earlier.

In a filing to the Bombay Stock Exchange, India Cements said its net sales rose slightly to Rs 1,238 crore from Rs 1,201 crore a year ago. However, total expenses was up to Rs 1,115 crore from Rs 993 crore. It consumed power and fuel worth Rs 330 crore from Rs 288 crore a year earlier.

India Cements' consumed raw material cost also went up to Rs 159 crore compared to Rs 137 crore a year earlier. Finance costs also rose to Rs 100 crore from 95 crore a year ago.

Shares of the company fell 1.34 per cent on the Bombay Stock Exchange to Rs 44.20.


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