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Madras Cements' net profit has jumped 35 per cent in the quarter ended June 20, 2011 as compared with that of the corresponding quarter previously.
According to a press release from the company, it has reported a net profit of Rs 98.30 crore (Rs 72.60 crore) on net sales of Rs 764.18 crore (Rs 697.24 crore).
A company official attributed the growth in net profit to an optimal market and product mix. In addition, the cost advantage provided by 100 per cent captive power availability gave the company an edge.
The line two kiln at its Ariyalur unit with a capacity of about 5,000 tonnes a day will go online in mid-August, the release said. This will add two million tonnes a year of additional production capacity to its existing capacity of 10 million tonnes of cement.
The income during the period from cement was Rs 732.10 crore (Rs 658.86 crore) and from the wind farm division Rs 32.08 crore (Rs.38.38 crore).
On the NSE the company's shares of Re 1 closed at Rs 83.15 against the previous close of Rs 84.30.
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