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Drop in net profit of Madras Cements

Special Correspondent


Price slump hits

sales and profitability numbers


CHENNAI: The price slump has hit the sales and profitability numbers of Madras Cements too.

The net turnover, including other income, has decreased to Rs.702.20 crore for the quarter ended June 30, 2010, from Rs.745.15 crore in the corresponding period of the previous year.

The operating profit has dropped to Rs.197.43 crore from Rs. 292.24 crore.

Interest cost has come down to Rs. 35 crore (Rs. 37.50 crore). Depreciation is higher at Rs. 53.73 crore (Rs. 45.06 crore).

The profit before tax has declined to Rs. 108.70 crore (Rs. 209.67 crore). The provision for current tax is lower at Rs. 24.20 crore (Rs. 39.28 crore) and deferred tax at Rs. 11.90 crore (Rs. 31.97 crore).

The profit after tax has nearly halved to Rs. 72.60 crore from Rs. 138.42 crore).

Revenue under cement segment was lower at Rs. 658.86 crore against Rs. 700.01 crore and that of wind mill at Rs. 38.38 crore against Rs. 42.32 crore.

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