India: record profit for Malabar Cements
Publicly-owned Malabar Cements Limited has made record profit of INR51.23 crore (US$11.57m) during the financial year 2010-11 as against INR30.31 crore (US$6.84m) last year.
Capacity utilisation of the company also reached an all-time high of 138.5 per cent during 2010-11.
The turnover of the company also touched new heights of INR278.93 crore in 2010-11, breaking the previous record of INR278.77 crore during the financial year of 2008-09.
The highest profit the company had made earlier was INR46.35 crore during 2008-2009 against a turnover of INR278.77 crore, company sources said.
In 2010-11, the company sold 580,494t of cement, an all-time record, as against the previous sale record of 506,725t during 2005-06.
The company sources said the record profit was due to the high price, increased production and increasing demand for cement in the state.
There was an increase of INR40/bag in the price of cement from April last year. The record capacity utilisation and the cost-cutting measures had also helped the company to make record profit. Published under Cement News
