Orient Cement announces 4% revenue increase

India's Orient Cement (OCL) has announced a 3.9 per cent YoY increase in revenue for the final quarter of FY18, rising to INR6.2bn (US$92.79m) from INR5.97bn. However, this was below estimates of 15 per cent YoY growth, according to an IIFL report. Net profit fell 22.5 per cent to INR128m, compared to INR165m of the year-ago period.

The results have been partially attributed to weak demand in the southern market, which resulted in a capacity utilisation rate of below 85 per cent. Furthermore, dispatches for the 4Q were down 3.2 per cent YoY.