Madras Cements 3Q net profit falls

Madras Cements 3Q net profit falls
Published: 29 January 2010

Madras Cements Ltd said Thursday its third-quarter net profit fell nearly 75% from a year earlier as costs rose and income dropped.

Net profit for the quarter ended Dec. 31 fell to INR160.1m from INR627.3m a year earlier, the Chennai-based cement maker said in a statement.

Total income fell slightly to INR6.07bn from INR6.09bn a year earlier.

While revenue from its power business more than doubled to INR191.10m, that from the cement segment fell almost 3% to INR5.88bn, it said.

Madras Cements said its total expenses rose almost 13% to INR5.50bn, driven by a 20% jump in raw-material costs at INR1.20bn.