Madras Cements’ net profit for the fourth quarter of 2012-13 dipped by about one-third compared with the corresponding quarter the previous year. The profit was Rs 64.16 crore (Rs 99.19 crore) on a total income of Rs 957.64 crore (Rs 878.75 crore) for the quarter ended March 31, 2013.

Increasing cost of inputs and slow demand vis-à-vis supply contributed to the drop in net profit, said a company press release. CEO A.V. Dharmakrishnan said the company has continuously invested in strengthening its infrastructure, including power. It has over 60 MW of captive power in Ariyalur and 25MW in Ramasamy Raja Nagar.

It will invest an additional Rs 55 crore to expand power capacity by 18 MW totally across three units of 6 MW each at Alathiyur, Jayanthipuram and Ariyalur. This surplus power will get the company additional revenues.

Name Change

Following statutory approvals, Madras Cements Ltd plans to change its name to ‘The Ramco Cements Limited’, reflecting the brand, Ramco, under which its products are sold.

The company has announced a total dividend of Rs 3 a share of face value Re 1 for 2012-13. It has reported a net profit of Rs 403.65 crore on a total income of Rs 3,863.45 crore for the full year. During the previous year, the net profit was Rs 385.21 crore on an income of Rs 3,247 crore.

> balaji.ar@thehindu.co.in

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