India Cements Q3 profit plunges

ndia Cements has reported a 99 per cent drop in net profit to ₹42 lakh for the third quarter of the current year compared with ₹43.05 crore in the corresponding quarter previously. For the quarter ended December 31, 2013, it posted a total income of ₹1,038.47 crore (₹1,085.72 crore). Cost pressure and low volume of sales due to sluggish demand have impacted performance, said N Srinivasan, Vice-Chairman and Managing Director. Sales volume was down to 22.94 lakh tonnes (24.15 lt). On the BSE, the company’s shares closed 3 per cent lower at ₹52.85 over the previous close ₹54.50.