OCL India Q3 net profit soars four-fold

OCL India Q3 net profit soars four-fold
Published: 22 January 2007

Cement manufacturer OCL India Ltd today reported a more than four-fold jump in net profit during October-December 2006 to Rs 17.74 crore compared to Rs 4.04 crore in the year ago period. For the latest quarter, turnover increased 29.87 per cent at Rs 225.09 crore against Rs 173.31 crore for the same period of previous fiscal, a company statement said. 
 
The board of directors have also given their in-principle approval for demerger of the sponge iron and steel and real estate operations into separate companies.
 
A company filing on the BSE also said it has authorised OCL India Director Y H Dalmia to prepare the schemes for the demerger in consultation with experts and place them before the board in its next meeting for consideration and approval.