India Cements

India Cements: Net Profit Increased Four-Times

India Cements: Net Profit Increased Four-Times

After Tata, it’s the turn of the India Cements Ltd who declared their net profit increased by four times for the quarter ended June 2011. This time profit is Rs 102.03 when compared to last year’s profit which was Rs 24.98 crore.

Considering the profit, revenue for the given quarter has augmented to 16.78%, amounting to Rs 1,061.72 crore. If last year’s quarter fiscal is to be considered, then last time revenue was Rs 909.16 crore. Gross understanding for the quarter was Rs 4,150 per ton while for the last corresponding quarter last fiscal was Rs 3,216 per ton.

India Cements Posts 44% Drop In Q3 Net Profit

India Cements Posts 44% Drop In Q3 Net Profit India Cements has registered a drop of 43.79% in its net profit for the three month period ended December, 2009 owing to fall in realization and quite less demand in the southern market.

The net profit of a South-based cement manufacturer stood at Rs 34.8 crore as against Rs 61.91 crore in the same period of the last year.

India Cements acquires second bulk cargo carrier

India Cements Ltd has acquired a second bulk cargo carrier (motor vessel) with capacity of 38,002 DWT from Essar Shipping Ltd of Mumbai.

Recently, India Cements unveils plans to double its cement capacity to almost 18 million tones by 2011 and is in talks with concession owners of coal mine in Indonesia to work out a long-term coal supply agreement.

The company also intends to acquire equity stake in the coalmine in order to get coal at reasonable price.