Indian cement companies report 3Q results

HeidelbergCement India reported a net loss of Rs.9.98 crore for the December quarter. However, income grew 16.7% in the quarter, which the company said was not comparable to the 2013 quarter due to the sale of the Raigad plant effective 3 January 2014. 

Meanwhile, Ramco Cements has said it is on track to commission its new grinding unit in Vizag, Andhra Pradesh, in April. The company sold 56.59 lakh t of cement in India in the first nine months of this financial year (to end of December), compared to 62.01 lakh t in the same period of the previous year. Exports added a further 1.29 lakh t, meaning total sales volumes of 57.88 lakh t (against 63.50 lakh t).

Mangalam Cement reported an increase in sales for the quarter, but a decrease in profits. Net sales hit Rs.2133.42 million, up from Rs.1616 million in 3Q14. However, profits fell considerably, ending at a Rs.24.04 million loss.

Edited from various sources by Katherine Guenioui

Sources:

• Live Mint
• Business Standard
• My Iris
• IIFL

Read the article online at: https://www.worldcement.com/asia-pacific-rim/09022015/indian-cement-companies-report-3q-results-293/