Chennai: The Chennai-based India Cements Ltd has turned out an improved performance during the 4th quarter ended March 31, 2019, aided by the improved selling prices for cement and increased volume.
The growth in core sector for the year as per the information published by DIPP was around 4.3 per cent, which was primarily driven by the increase in cement production of over 13 per cent followed by increase in production of coal, electricity and steel,
South also witnessed a substantial increase in cement production of 19 per cent more than the previous year, riding on the infrastructure push given by the governments of Andhra Pradesh and Telengana which together accounted for a major portion of the increase in production.
Mr. N. Srinivasan, vice-chairman and MD, India Cements told media persons here on Saturday after the board meeting, “going forward, we expect good demand for cement to continue in the coming quarters.”
Net profit during the quarter ended March 31, 2019 improved to Rs 43.85 crore compared to Rs 35.27 crore in the same quarter in the previous year. Total revenue also increased to Rs 1581.38 crore from Rs 1401.73 crore, he said.
Net profit during the year 2018-19 came to Rs 69.44 crore compared to Rs 100.62 crore in 2017-18. Total income for 2018-19 increased to Rs 5658.96 crore against Rs 5360.13 crore in the previous year. The board has approved a dividend of 8 per cent on equity capital, he added.
Asked for his comments on the return of NDA with a big victory in the LokSabha Elections and industry expectatations, Mr. N. Srinivasan, “ the NDA Government is on the right track. Certaintly, it will continue to be pro- development. We expect the Government to continue its thrust on infrastructure development and housing”. He also welcomed the new YSR Congress government in Andhra Pradesh terming Jagan Reddy as a ‘pro-development person’.
