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.
With construction activities surging rapidly, there is a growing need for efficient project management services in the country. Turner Project Management India, a reputed North America-based consultant has been serving the Indian market since the last five years.
The setting up of Maharashtra's first private port has catapulted a once unknown Dighi village into international limelight. Set to become one of the largest Greenfield ports in the state, the all weather Dighi Port,
During the second quarter of this fiscal, Omaxe, a realty company, has sold properties worth Rs 472 crore, marginally higher than the year-ago period. The company sold 2.56 million sq ft during July-September quarter for Rs 472 crore.