Orient Cement records a decline in sales

Financial highlights

Indian cement producer Orient Cement Ltd has released its key financial results for the quarter ended 31 March 2014.

Quarterly results

• The company reported a 27.08% y/y decline in net profit to Rs.26.34 crore in the quarter ended 31 March 2014, compared to Rs.36.12 crore recorded in the corresponding quarter in 2013.
• Sales stood at Rs.396 crore in the quarter ended 31 March 2014, a marginal fall of 1% y/y compared to Rs.400.01 crore reported during the quarter ended 31 March 2013.

Full year results

• Net profit fell by 37.51% y/y to Rs.101.02 crore in the year ended 31 March 2014, from Rs.161.67 crore in the year ended 31 March 2013.
• Sales decreased by 3.65% y/y to Rs.1430.18 crore during the reporting period, against Rs.1484.40 crore recorded during the year ended 31 March 2013.

New appointments

At the Board of Directors meeting, held on 30 April 2014, Mr Janat Shah was appointed as Additional Director in the category of Independent Non-Executive Director. During the meeting it was also agreed that the Annual General Meeting of the company would be held on 9 August 2014.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/asia-pacific-rim/02052014/orient_cement_records_a_decline_in_-sales_128/