Malabar Cements makes record profit

Malabar Cements makes record profit
Published: 29 May 2007

Accumulated profit stands at Rs.78 crore as on March 31, 2007 Turnover rises to Rs.239 crore from Rs.228 crore The State public sector Malabar Cements Limited, Walayar, has made an all-time record profit of Rs.24.76 crore during the 2006-07 financial year.

Addressing a press conference on Saturday, company Chairman and Principal Secretary (Industry and Commerce) T. Balakrishnan and Managing Director K.S. Srinivas said the company also had record turnover during the period. The turnover during 2006-07 rose to Rs.239 crore from Rs.228 crore of the previous year.

They said the accumulated profit of the company stood at Rs.78 crore on March 31, 2007. The Director Board of the company, which met here on Saturday, declared a dividend of Rs.1.03 crore to the Government.

They said that in the current financial year, the company expected to increase the production from the current 6 lakh tonne to 8 lakh tonne and increase the profit to Rs.40 crore. Cost-cutting measures The Managing Director said the cost-cutting on clinker purchase, transporting of materials, bags and the import of coal etc., helped the company reduce its cost of production and thereby increase its profit