Sagar Cements sees revenue increase 3%

Sagar Cements sees revenue increase 3%
23 October 2019

India's Sagar Cements has recorded a consolidated net profit of INR45.2m (US$637,532) in the quarter ended 30 September 2019, compared with a loss of INR80m in the year-ago period. Total revenue increased 2.7 per cent YoY to INR2.65bn from INR2.58bn.

"The growth would have been even better, but for the sluggishness in the overall economy and an extended monsoon, which weighed down on demand. Profitability improved on the back of several cost-saving initiatives as well as moderating input costs," said Sreekanth Reddy, joint managing director, Sagar Cements.

"We expect a further improvement in operational profitability and margins going forward, following the ramping up of our waste heat recovery (WHR) plant and the commissioning of our captive power plant. Further, reallocation of sales should help in rationalising freight expenses," he added.

Published under Cement News