India Cements registers decline in earnings

India Cements (ICL) registered lower than expected earnings for Q2FY13. Cost-push pressures (especially increase in power cost and freight cost) were the key reasons for this decline. Although increases in freight costs were largely passed on to the consumers, increase in power cost on account of purchase of high cost power in Andhra Pradesh eroded profitability to the extent of Rs 430 mn. Contact: India Cements Ltd. Tel: 0462-230 0221. Fax: 0462-230 0294.