India’s Shiva Cement releases 3Q14 results

Indian cement producer Shiva Cement Limited has posted its third quarter unaudited financial results (ended 31 December 2013).

Third quarter results

• Income from operations saw a marginal decrease to Rs.1758.95 lakh in 3Q14 from Rs.1759.63 lakh in 3Q13.
• Total expenditure stood at Rs.1655.5 lakh in 3Q14, against Rs.1618.5 lakh in 3Q13.
• Gross profit in 3Q14 was Rs.173.68 lakh, compared to Rs.234.99 lakh in 3Q13.
• Profit before interest and taxes (PBIT) declined from Rs.146.88 lakh in 3Q13 to Rs.111.95 lakh in 3Q14.
• Profit after tax (PAT) fell from Rs.53.69 lakh in 3Q13 to Rs.24.51 lakh in 3Q14.

Nine month results

• Income from operations fell from Rs.5079.78 lakh in the first nine months of FY13 to Rs.4818.38 lakh in the first nine months of FY13.
• Total expenditure decreased to Rs.4418.88 lakh from Rs.4623.99 lakh in the first nine months of FY13.
• In the first nine months of FY14 gross profit stood at Rs.599.35 lakh, a fall from Rs.717.07 lakh in the same period a year earlier.
• PBIT declined to Rs.426.81 lakh from Rs.480.39 lakh in the first nine months of FY13.
• PAT fell from Rs.237.61 lakh in the first nine months of FY13 to Rs.153.8 lakh in the same period in FY14.

Shiva Cement Limited is located in Orissa and supplies markets in the Indian states of Odisha, West Bengal, Jharkhand and Bihar.

Adapted from press release by Rosalie Starling

Read the article online at: https://www.worldcement.com/asia-pacific-rim/19022014/shiva_cement_announces_a_fall_in_third_quarter_and_nine_month_profit_769/