Financial Daily from THE HINDU group of publications
Thursday, Jan 31, 2002
Financial Daily from THE HINDU group of publications Thursday, Jan 31, 2002 |
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Corporate Results
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Cement India Cements posts Rs 26.25-cr loss in Q3 Our Bureau
CHENNAI, Jan. 30 INDIA Cements has reported a loss for the second consecutive quarter and a 23 per cent drop in income from operations for the quarter ended December 31, over the corresponding period last year. For the October-December 2001 period, the company's loss was Rs 26.25 crore on an income of Rs 257.77. This was against a net profit of Rs 12.60 crore on income of Rs 334.06 crore for the same period last year. (For the quarter ended September 30, 2001 the company reported a loss of Rs 30.86 crore on a turnover of Rs 314.05 crore.) It said that gross sales realisation per tonne, which was at Rs 2,805 in the first quarter, fell to Rs 2,234 in the second quarter and partially recovered to Rs 2,513 during the third quarter. This increase in cement prices during the third quarter helped in mitigating partly the losses arising out of lower volume. Cement production for the nine months ending December 31, was 36.35 lakh tonnes against 40.27 lakh tonnes for the same period last year, while sales was 36.72 lakh tonnes against 40.41 lakh tonnes previously. Cement sales for the October-December 2001 period was Rs 257.09 crore (10.23 lakh tonnes) against Rs 333.49 crore (11.49 lakh tonnes) in the corresponding quarter last year.
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