Rajasthan-based Mangalam Cement Ltd witnessed a steep fall decline in profits for the company’s fourth quarter March 2010 results. The net profits fell by over 40% to INR22.89 crore over the same period a year back.
Mangalam Cement’s net profits declined by 40.65% to INR22.89 crore on 11.14% fall in net sales to INR150.26 crore in 4Q March 2010 over 4Q March 2009.
Meanwhile, announced that the company has received a letter from Mangalam Timber Products Ltd (MTPL) informing that the Board of Directors of Mangalam Timber Products Ltd has recommended amalgamation of MTPL with Mangalam Cement Ltd. The meeting of the Board of Directors of Mangalam Cement Ltd is being conveyed on May 12, 2010 to examine the proposal of amalgamation of MTPL with Mangalam Cement Ltd.