New Delhi: Today shares of India Cements gains to its 52-week elevated level following the corporation accounted a 16 per cent climb in standalone net profit for the April-June quarter. Today India Cements position a 16.34 per cent increase in standalone net profit to Rs 43.98 crore in the quarter concluded on June 30.
The corporation’s net profit throughout the similar quarter a year ago stood at Rs 37.8 crore. Reacting to the earnings shares of the corporation touched an intra-day elevated of Rs 130.80, which was also its 52 week superior level and lastly settled for the day at Rs 125.60, up 1.17 per cent on the BSE. On NSE as well, similar trend was witnessed as the stock commenced at Rs 124.95, then increased to its 52-week superior level of Rs 130.85 and ended at Rs 125.70.
The corporation in a regulatory filing has also further conveyed that, meanwhile, total income from operations depreciated from Rs 1,225.7 crore in the year-ago period to Rs 1205.72 crore in the primary quarter of the ongoing fiscal. The financial results were approved by the company's Board of Directors in a gathering held today.
On a standalone basis, total income from operations drops Rs.1,225.70 crore to Rs 1.205.72 crore. N. Srinivasan, India Cements Ltd., (ICL) Vice Chairman Managing Director has also further conveyed that, the net plant realisation per tonne of cement for this quarter decreased to Rs.3,461 per tonne from Rs.3,920 per tonne. He has also further conveyed that, a decrease in international fuel prices and reduction in logistics and finance costs also enabled the company to post better results.
Throughout the first quarter, ICL sold 23.07 lakh tonnes of cement against 20.81 lakh tonnes. It marked a 10 per cent expansion in production at a capacity utilisation level of 65 per cent. The vice-chairman has also further conveyed that, this success has to be viewed in the light of the softening in the selling price of cement in Andhra Pradesh and Telangana.