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Orient Cement’s fourth-quarter net profit fell 77 per cent to ₹19 crore from ₹85 crore in the same period last year, largely due to a sharp fall in realisation.
Sales were up 15 per cent to ₹447 crore on higher volumes.
Deepak Khetrapal, Managing Director and Chief Executive Officer, told BusinessLine that the ramp up of production at the new plant in Karnataka’s Gulbarga district is progressing well and helped achieve a volume growth of 40 per cent.
The capacity utilisation has touched 44 per cent, while it was 86 per cent at the old plant, he added.
Though the demand has started looking up, the pricing pressure continued in major markets such Maharashtra, Andhra Pradesh and Telangana. Overall realisation was down 17 per cent to ₹3,228 per tonne (₹3,915).
The company’s shares were down two per cent at ₹145 on Wednesday.
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