India Cements net dips

MUMBAI, JULY 6: Hit by a sharp fall in realisation and other income, India Cements Ltd (ICL) has posted a 46 per cent decline in net profit for the fiscal ended March 2000. The net profit was Rs 45.31 crore as against Rs 83.89 crore in the previous fiscal. Sales and other income stood at Rs 1,419.66 crore (Rs 1,391.84 crore).

The operating profit for 1999-2000 was lower at Rs 291.51 crore (Rs 308.50 crore) on account of higher input costs but despite increased capacity utilisation and lower power consumption. ICL has managed a marginal increase in income from cement operations if other income is not factored into previous year's operating profit calculation.

Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.