Despite moderate growth in cement dispatches and substantial savings on fuel costs, cement companies saw their profits sink in the July-September period due to a sharp drop in cement prices and higher freight expenses. ACC Ltd, Ambuja Cements and UltraTech Cement reported 45-50 per cent year-on-year declines in their net profits during the quarter.
For July-September quarter, ACC's consolidated net profit stood at Rs 118.90 crore, which is half when compared to last fiscal profit. Sluggish market conditions resulted in lower realisations, the company stated.
Media reports say that shares in UltraTech Cement slumped as much as 4.76 per cent on October 21 after the country's largest cement maker posted a 52 per cent fall in net profit for the July-September quarter.
Beginning this month, CW will be examining legal issues related to the construction and infrastructure sector through recent case studies. In the first, AJAY THOMAS emphasises the need for Indian projects involving international parties to rightly decide on the place of arbitration.
Solitaire Machine Tools has bagged orders for its newly developed Grinding Machines from two major auto ancillary manufacturers. Era Infra Engineering Ltd (EIEL) has been awarded a contract for the construction of a elevated viaduct, five elevated stations from the Delhi Metro Rail Corporation.
Jugal Makwana, Global Product Manager - Road, Rail and Transit, Bentley Systems India Pvt Ltd has more than 15 years of experience in road and rail infrastructure. His portfolio boasts of design consultancy, software - power user, sales management and support.
Alakesh Roy has taken over as the Managing Director of Zamil Steel, India, with effect from June 2013. He is a Mechanical Engineer from IIT (BHU) Varanasi and has completed his post graduation in Management with specialisation in marketing and
Divakar Marri, Head - Corporate Planning & Program Management at Ramky Infrastructure since 2005, is a competent certified Project Management Professional with more than 17 years of experience in the domestic construction industry
Shriram Equipment Finance Company offers all types of equipment-related financial solutions under one roof. Shriram Equipment Finance Company (SEFC) is a part of the 'Shriram' conglomerate which has significant presence in financial services.