Financial Daily from THE HINDU group of publications
Saturday, Oct 30, 2004
Financial Daily from THE HINDU group of publications Saturday, Oct 30, 2004 |
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Corporate Results
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Cement Madras Cements PAT rises to Rs 13 cr on higher sales Our Bureau
CHENNAI: Madras Cements Ltd has recorded a profit after tax of Rs 13.08 crore (Rs 8.67 crore) on net sales of Rs 196.05 crore (Rs 169.19 crore) in the second quarter of this financial year. The increase in net sales in the second quarter was largely because of a growth in volume. Cement sales in the second quarter were 10.53 lakh tonnes, a 23 per cent increase over the first quarter's sale of 8.55 lakh tonnes. While the volume in the second quarter increased, realisation was lower, said Mr A.V. Dharmakrishnan, Senior Vice-President (Finance). The costs of the industry's inputs such as coal and furnace oil increased recently. Mr Dharmakrishnan said the industry had to pass on the increase in input costs to cement consumers, as the alternative would be a drain on profit. The company registered a profit after tax of Rs 30.21 crore (Rs 18.90 crore) in the first half of 2004-05, an increase of 60 per cent in relation to the corresponding period the previous year. The increase in profit comes on the back of a fall in interest expense. In the first half, interest expense was Rs 16.75 crore (Rs 27.76 crore), lower by 40 per cent in relation to the previous year's first half. The company's net sales in the first half was Rs 371 crore (Rs 353 crore).
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