Orient Cement recorded net profit of Rs.34 crore in the June quarter, an 8% decline y/y, but an increase of 31% from the previous quarter. Revenue was up 2% y/y at Rs.436 crore, though this marked a 4% decline from the previous quarter. The company has 5 million t of cement production capacity across two plants and reported capacity utilisation of 87% in the June quarter.
Results have been mixed across India for the April – June period, with India Cements and Ramco Cements reporting a drop, while Prism Cement and JK Lakshmi Cement reported an increase in profit.
The cement sector has been experiencing a slowdown in many regions of India, but with news this month of an improvement in core sector growth during June, expectations for the rest of the year are more optimistic.
Edited from various sources by Katherine Guenioui
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