Madras Cements has reported a 20 per cent jump in net profit for the second quarter of the current year.
The company has announced an interim dividend of Re 1 (100 per cent) a share for 2012-13.
Focus on fuel, power and logistics costs has contributed to the performance, said A.V. Dharmakrishnan, Chief Executive Officer. The company has reported a net profit of Rs 132.89 crore (Rs 110.88 crore) on a net income of Rs 1,005.69 crore (Rs 825.69 crore) for the quarter ended September 30.
Finance costs have increased to Rs 50.74 crore (Rs 42.50 crore). This follows the completion of planned capital expenditure in cement production capacities and thermal power plants, he said. Madras Cements’ annual production capacity is now at 12 million tonnes, apart from two million tonnes of grinding units. An additional half-a-million tonne of grinding capacity is coming up at one of its plants in RR Nagar.
In the first half of the financial year, cement sales increased to 41 lakh tonnes (lt) from 36 lt in the corresponding period last year.
On the NSE, the company’s shares closed at Rs 203.80 against the previous close of Rs 204.25.
balaji.ar@thehindu.co.in