N Srinivasan's India Cements quarterly net profit down 73%

Aug 12 2013, 16:12 IST
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 N Srinivasan led India Cements' net profit for the April-June quarter dipped by 73 per cent to Rs 16.82 crore. (PTI) N Srinivasan led India Cements' net profit for the April-June quarter dipped by 73 per cent to Rs 16.82 crore. (PTI)
SummaryShares of the company were trading at Rs 43.25, down 3.46% in the afternoon trade in BSE.

Hit by higher expenses, N Srinivasan-led India Cements Ltd net profit for the April-June quarter dipped by 73 per cent to Rs 16.82 crore.

The Chennai-based cement maker had clocked Rs 62.07 crore net profit in the same quarter a year earlier, it said in a BSE filing.

Net sales of the company rose slightly to Rs 1,238 crore from Rs 1,201 crore a year ago.

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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.

Also read: India Cements Limited to focus on core business, says N. Srinivasan

Finance costs also rose to Rs 100 crore from 95 crore a year ago.

Shares of the company were trading at Rs 43.25 apiece, down 3.46 per cent in the afternoon trade in BSE.

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