Binani Cement net tumbles 44% for Sep ’08 qtr

Binani Cement net tumbles 44% for Sep ’08 qtr
Published: 27 October 2008

Binani Cement announced a substantial drop in standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company declined 43.99% to Rs 268.10m from Rs 478.70m in the same quarter previous year.

Net sales for the quarter jumped 45.15% to Rs 3,102.50 million, while total income for the quarter jumped 41.60% to Rs 3,110.90 million, when compared with the prior year period.

The company reported earnings of Rs 1.32 a share during the quarter, registering 44.07% decline over prior year period.