India Cements reported a five per cent rise in net profit attributed to stable cement prices and improved realisations.
Business Line India reports that for the quarter ended March 31, 2012, the company posted a net profit of INR64.92 crore on a total income of INR1122.95 crore.
During the corresponding quarter in the previous year, the net profit was INR56.31 crore on a total income of INR941.52 crore.
A noticeable recovery in demand and a higher average realisation during the year at about INR3431 a tonne (INR2661) have contributed to the improvement in performance.
India Cements has commissioned a 50 MW coal-based power plant at its Sankar Nagar plant in January. Its captive plant in Vishnupuram is to be commissioned soon.
As grid power costs increase, the captive power plants will contribute to significant savings, he said.
The company has also invested over US$20m in captive coal mines in Indonesia which will be commissioned in the first quarter of the next financial year.