The Hindu Business Line : Chettinad Cement PAT rises

Chettinad Cement Corporation Ltd has reported a three times jump in net profit for 2006-07 over the previous year. For the year ended March 31, the company reported a profit after tax of Rs 114.7 crore on net sales of Rs 725.3 crore. During the corresponding period in the previous year the company reported a net profit of Rs 40 crore on net sales of Rs 485.49 crore. The two subsidiaries of the company, Sabari Cements (Chennai) Ltd and High-Tech Lime Products Ltd, have been amalgamated with the company with effect from April 1, 2006. The company has attributed the performance to an overall buoyancy in the sector and the focus on cost conservation. Volumes and realisation has grown, interest outgo has dropped and power costs have also come down. For the quarter ended March 31, 2007, the company reported a net profit of Rs 26.9 crore (Rs 13.7 crore) on net sales of Rs 186.9 crore (Rs 124.4 crore). The board has recommended a dividend of Rs 7.50 (75 per cent) on every Rs 10 share. On the stock exchange today the company's shares opened at Rs 427 and closed at Rs 393.90.