Madras Cements Q4 net down 35% to R64 crore

Written by fe Bureau | Chennai | Updated: May 31 2013, 06:52am hrs
Madras Cements has reported a 35% drop in its net profit for the fourth quarter ended March to R64.15 crore compared with R99 crore during the same quarter last fiscal. The total income increased by 5% to R961 crore compared with R912 crore during the same quarter last fiscal.

The company has also proposed to change its name to Ramco Cements. Identification of the companys name with the brand name would be advantageous in the long run in brand building, the company said in a statement.

The net profit for the year grew 5% to R404 crore compared with R385 crore in the the previous fiscal on a 19% growth in total revenue to R3,873 crore for the year under review against R3,257 crore in the last fiscal. The volume sale of cement has increased to 83.60 lakh tonne for the year compared with 75.50 lakh tonne of the previous year. The interest cost has increased to R179 crore for the year ended March 2013 compared with R158 crore of the previous year, showing an increase of 13%.