Riding high on a 6% increase in net plant realisation (NPR) due to price hike, coupled with an increase in sales volume, India Cements has reported a sharp hike in its net profit for the quarter ended March 31, 2019 to Rs43.85 crore compared with `35.27 crore in the same quarter last fiscal.
The increase in NPR, together with improved volume, resulted in higher Ebitda at Rs 210 crore for the quarter against Rs 162 crore in the same quarter of the previous year, the company said in a statement. Total revenue increased to Rs 1,581.38 crore during the quarter under review, compared with Rs 1,401.73 crore in the same quarter last fiscal.
N Srinivasan, vice-chairman and MD, said: “The growth in core sector for the year as per the information published by DIPP was around 4.3%, which was primarily driven by an increase in cement production of over 13%, followed by increase in production of coal, electricity and steel. South also witnessed a substantial increase in cement production of 19% more than the previous year riding on the infrastructure push given by the governments of AP and Telengana which together accounted for a major portion of the increase in production.”
