Asia / Oceania
Sagar Cements records five-fold increase in profits
Feb, 06 2012
(India) -- Sagar Cements, a leading cement producer of India, has posted a fivefold increase in its net profit. The company’s stocks rose by 6.54 per cent to end at Rs 146.60 on the BSE on Tuesday.
The company’s net profit increased to Rs 17.6 crore in the third quarter ended December 31, 2011, compared with Rs 3 crore in the corresponding quarter of previous year.
The total income of the company increased by 43 per cent at Rs 161 crore.
“Cement prices in Andhra Pradesh have held up well during the quarter. We continue to have a healthy balance sheet and our low debt to equity places us too well in the future,'' Mr Sreekanth Reddy, Executive Director, Sagar Cements Ltd, said in a release.
The company's plant produced over 4.46 lakh tonnes of clinker and 3.80 lakh tonnes of cement during the third quarter.
About 48 per cent of the company’s cement dispatches went to states outside Andhra Pradesh, such as Orissa, Karnataka, Tamil Nadu and Maharashtra.
By: Rashmi Kalia (ARI-C NEWS)
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