India Cements Q4 profit grows 40 pct

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Chennai | Published: May 27, 2016 7:55 AM

India Cements has reported a 40% growth in its net profit for the fourth quarter ended March 31, 2016 to Rs 51.21 crore, compared with Rs 36.60 crore reported in the same quarter last fiscal.

India Cements has reported a 40% growth in its net profit for the fourth quarter ended March 31, 2016 to Rs 51.21 crore, compared with Rs 36.60 crore reported in the same quarter last fiscal.

Despite a 5% drop in net plant realisation, the firm posted a healthy net profit owing to a 10% drop in variable costs, including a sharp 7% drop in fuel and power as well 10% savings in logistic costs, said N Srinivasan, vice-chairman and MD.

“We made a decent profits in Q4 because of our savings in variable costs. We are back in business and hope to make decent profits in the coming quarters by further reducing variable costs, increased capacity utilisation owing to an expected better monsoon,” Srinivasan said.

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