Economy & Market

Madras Cements' Q1 net profit up by 25%

Published

13 years ago

August 5, 2012

admin

Madras Cements has reported a 25 per cent jump in net profit for the first quarter of the current year compared with the corresponding quarter previously. Higher cement sales and improved profitability have contributed to the growth, said a company press release.The company has reported a net profit of Rs 123.01 crore (Rs 98.30 crore) for the quarter ended June 30, 2012, on a total income of Rs 995.27 crore (Rs 768.21 crore).Finance cost has increased to Rs 54.26 crore (Rs 47.60 crore). The operating profit was up 26 per cent to Rs 314.47 crore (Rs 250.18 crore). Cement sales jumped 20 per cent during the first quarter to 21.58 lakh tonne (17.79 lakh tonne).Revenue from wind mills has increased to Rs 40.95 crore (Rs 32.08 crore) with electricity generation increasing to 1,144 lakh units (943 lakh units) during the quarter.A press release said the company plans to appeal against the order of the Competition Commission of India levying a penalty of Rs 258.63 crore for alleged cartelisation.Madras Cements will approach the Competition Appellate Tribunal against the order of June 20, 2012. It has not provided for the penalty in the accounts.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

admin

Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

admin

Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

admin

According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/