CHENNAI: Riding on a robust demand, India Cements Ltd. (ICL) has reported a profit before tax of Rs. 20.04 crore for the nine months ended December 2005 as against a loss of Rs. 69.14 crore during the corresponding period in the previous year.

The company's recovery march was aided by a 20 per cent growth in overall clinker and cement sales and backed by a partial recovery in cement prices. Cement demand grew nine per cent across the country and 17 per cent in the South.

In the third quarter alone, cement consumption in the South rose by 10.3 per cent despite adverse monsoon conditions. Against the backdrop of firming demand, ICL reported a 34 per cent growth in inland sales during the period under review

Sales and other income for the nine-month period stood at Rs. 1,335.93 crore (Rs. 1,003.76 crore). The profit before interest and depreciation registered a growth of 64 per cent to Rs. 190.04 crore (Rs. 115.55 crore). The profit before exceptional items was Rs. 13.99 crore against a loss of Rs. 69.14 crore.

Besides the above, there was an exceptional income of Rs. 6.65 crore representing remission in liability arising out of repayment of some of the existing debts in excess of interest accrued during the financial year due to settlement effected during this quarter.

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