Binani Cement first-quarter net dips 60%

Binani Cement first-quarter net dips 60%
Published: 28 July 2010

Binani Cement, the flagship company of the Braj Binani Group, said its first quarter net profit fell 60% to INR43 crore.

“It was a tough quarter this year in terms of profits which got affected mainly due to increase in international coal prices and an increase in freight charges,” said a Binani Cement spokesperson.

The company’s net sales fell 22% to Rs 430 crore for the quarter ended June 30, 2010, from INR525 crore in the same period last year. 

Binani Cement expects to maintain margins for the whole year as it will start production of coal from Indonesia.