India Cements has seen its standalone net profit more than double to Rs 37 crore for the quarter ended June 30, compared with net profit of Rs 17 crore a year ago. Compared to the preceding March quarter, however, net profit declined from Rs 72 crore.
Net plant realisation for the quarter was 7 per cent lower than a year earlier, but higher than in the quarter ended March 2021 mainly due to rising freight costs, said N Srinivasan, vice-chairman and managing director of India Cements.
Revenue from operations grew to Rs 1,022.5 crore from Rs 757 crore in the year-ago period. The company’s cement production was also higher at 18.88 lakh tonne as against 13.43 lakh tonne. Similarly, the overall volume rose to 19.45 lakh tonne from 14.3 lakh tonne.