India Cements Ltd today reported a 2.88 per cent rise in standalone net profit at Rs 35.27 crore for the quarter ended on March 31, 2018. It had reported a net profit of Rs 34.28 crore in the January-March quarter a year ago.
According to a BSE filing, the company’s total income during the quarter under review stood at Rs 1,401.73 crore against Rs 1,524.29 crore in the corresponding quarter of the last fiscal. Total expenses were at Rs 1,377.49 crore.
“Consequent to introduction of GST from July 1, 2017 as the excise duty is subsumed under GST, the said income and expenditure from July 1, 2017 are net of GST and hence not comparable,” India Cements said.
For the entire 2017-18, India Cements’ consolidated net profit was down 56 per cent at Rs 66.44 crore compared with Rs 151.03 crore in 2016-17. Its total consolidated income stood at Rs 5,456.77 crore against Rs 5,880.16 crore in 2016-17.
Meanwhile, in a separate filing India Cements informed that its board in a meeting held today recommended a dividend of Re 0.80 per equity share of Rs. 10/- each for the year 2017-2018. The company shares ended the session higher by 4.29 per cent at Rs 130.15 on the BSE.