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04-26-2012, 01:03 AM #1
India Cements profit zooms to Rs.293 crDespite a negative demand growth in the South during the first nine months, The India Cements Ltd. (ICL) reported 19 per cent jump in its revenue at Rs.4,223 crore for the year ended March 31, 2012, up from Rs.3,540 crore in the preceding year.
The significant pick-up in cement demand in the South during the final quarter and a big jump in net realisation largely helped ICL post a healthy net profit of Rs.293 crore, up from Rs.68 crore in the preceding year.
Addressing a press conference, N. Srinivasan, Vice-Chairman and Managing Director, said, “I am also surprised at the demand pick-up in the final quarter.” From a minus 3 per cent growth during April-December, 2011, the demand in the South grew to 9.4 per cent in the fourth quarter of the just-concluded year.
He attributed this to pick-up in demand, especially in Andhra Pradesh. For the country as a whole, the demand grew at an impressive 10 per cent in the final quarter as against 5.6 per cent during the first three quarters. According to Mr. Srinivasan, ICL achieved a capacity use of 67 per cent during the year under review....being a human...