Madras Cements net jumps in Q3

Madras Cements reported a two-and-half times jump in net profit for the third quarter of this financial year as compared to the corresponding quarter in the previous year. The net profit was Rs 43.48 crore (Rs 16.01 crore) on net sales of Rs 579.21 crore (Rs 579.46 crore) for the third quarter ending December 31, 2010.Cement production was lower during the quarter at 15.24 lakh tonne (18.37 lakh tonne). For the nine-month period in the current year the net profit dropped steeply to Rs 147.20 crore (Rs 324.31 crore) on net sales of Rs 1,918.51 crore (Rs 2,135.07 crore). Cement production was down to 55.51 lakh tonnes (58.63 lakh tonne). Fall in cement prices because of slack demand and high operating costs on account of increase in prices of fuel, including coal, raw materials and inputs, lowered profit. Contact: Madras Cements. Tel: 044-2847 8666. Fax: 044-2847 8676.