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India Cements has reported a small net profit in the third quarter of the current year against a net loss in the comparable quarter previously.
Slow market conditions impacted sales but lower variable costs particularly that of power and fuel were beneficial, according to N Srinivasan, Vice Chairman and Managing Director.
For the quarter ended December 31, 2015, the company reported a net profit of ₹5.46 crore (net loss: ₹11.68 crore) on a total income of ₹937 crore (₹1040.60 crore).
Total expenses dropped to ₹783.41 crore (₹877.18 crore) with power and fuel down to ₹202.89 crore (₹262.03 crore) and transportation and handling costs at ₹194.67 crore (₹224.67 crore).
Finance costs also dropped to ₹89.21 crore (₹103.62 crore).
Srinivasan said cement continued to witness dampened demand during the quarter with volume at 19.01 lakh tonnes (20.05 lakh tonnes).
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