Profits plunge for India’s Mangalam Cement in 2Q13

Mangalam Cement has experienced a decline after posting its results for 2Q13.

2Q13 results

• Profit decreased by 90.91% to Rs25.77 million, compared to Rs283.60 million in 2Q12. Profits have also fallen from the previous quarter. Operating profit fell from Rs2573 million in June 2013 to Rs718 million in September 2013, gross profit decreased from Rs2635 million in June 2013 to Rs789 million in September 2013 and net profit declined to Rs258 million in September 2013 compared to Rs1884 million in June 2013. Total income also fell from Rs1693 million in June 2013 to Rs1487 million in September 2013.
• Net sales for 2Q13 declined by 9.26% to Rs1479 million, from Rs1630 million in 2Q12. Sales also fell from the previous quarter, with sales turnover standing at Rs1693 million in June 2013.

Edited from various sources by Rosalie Starling

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