India’s Orient Cement has reported its results for the third quarter, October to December 2014. Higher sales brought a 36% y/y rise in net profit to Rs.31 crore, up from Rs.23 crore in the same quarter of 2013. Revenues also saw a significant increase, from Rs.341 crore in 3Q14 to Rs.384 crore in 3Q15. Profits decreased slightly from the previous quarter due to lower comparative prices. EBITDA rose 23.1% at Rs.61 crore and the company’s operating margin rose 130 basis points to 15.9%. The company reported slower demand in October due to various festivals, but construction activity picked up in November and is expected to continue to provide strong demand in the final quarter of this financial year.
Orient Cement is building a greenfield plant in Karnataka, which is reported to be on schedule for commissioning in the first quarter of the next financial year.
Edited from various sources by Katherine Guenioui
Sources: