Sagar Cements has reported a fall in sales and loss in profit for the third quarter of the current fiscal year, ending 31 December 2013.
Third quarter results
- The company’s sales turnover stood at Rs.117.96 crore in the third quarter of the current fiscal year, down from Rs.135.85 crore in the same period a year earlier. Sales turnover for the July – September 2013 quarter was Rs.101.29 crore and 122.96 crore for the April – June 2013 quarter.
- Gross profit was Rs.2.52 crore in October – December 2013, down from Rs.12.08 crore in July – September 2013 and Rs.6.61 crore in April – June 2013.
- Net loss stood at Rs.8.39 crore in October – December 2013, up from Rs.1.15 crore in July – September 2013 and Rs.4.69 in April – June 2013.
Sagar Cements attributed the fall in sales and profit to decreased demand for cement as a result of a decline in activity in the Indian infrastructure and housing sectors. The company has attempted to decrease its production costs by sourcing domestically produced coal rather than importing it.
Edited from various sources by Rosalie Starling
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