Financial Daily from THE HINDU group of publications
Saturday, Jan 22, 2005
Financial Daily from THE HINDU group of publications Saturday, Jan 22, 2005 |
|
|
|
|
|
Corporate Results
-
Cement India Cements net dips Our Bureau
For the first nine months of this year, its loss was Rs 69.14 crore on sales of Rs 988.40 crore against a loss of Rs 68.47 crore on sales of Rs 887.30 crore for the same period last year. The company is implementing a corporate debt restructuring package and its shareholders recently approved a preferential allotment of equity warrants and optionally convertible debentures to raise Rs 655 crore. A company press release said that it was able to improve performance through a partial recovery in cement prices during the first half of this year backed by significant contribution from exports. Cement demand grew 13 per cent in the third quarter to finish the nine-month period with a growth of 7.8 per cent. Even in the South, the company's major market, demand grew 7.7 per cent in the third quarter against a decline of 6 per cent in the first half and ended with a marginal growth in the nine-month period. India Cements' gross sales realisation for the nine months improved to Rs 2,257 a tonne against Rs 2,129 a tonne in the corresponding period in the previous year. The company produced 39.67 lakh tonnes of cement (40.50 lakh tonnes).
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|