Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
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Corporate Results
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Cement Madras Cements PAT up 7-fold in third quarter Our Bureau
Chennai , Jan. 29 MADRAS Cements Ltd has recorded an over seven times jump in profit after tax for the third quarter of this financial year, aided by a 10 per cent increase in sales and a 40 per cent reduction in interest cost. It posted a net profit of Rs 4.12 crore on sales of Rs 149.98 crore for the quarter ended December 31, 2003 against a net profit of Rs 53 lakh on sales of Rs 137.67 crore for the same period in the previous year. The company's interest cost was Rs 9.48 crore, down 40.5 per cent from Rs 15.95 crore. For the nine months ended December 31, 2003 the net profit was Rs 23.02 crore on sales of Rs 503.08 crore compared with a net profit of Rs 6.24 crore on sales of Rs 457.56 crore for the same period in the previous year. In the October-December 2003 period, the company sold 8.72 lakh tonnes of cement against 8.47 lakh tonnes in the same period the previous year.
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