India Cements reported a net loss of Rs 11.68 crore for the third quarter ended December 31, 2014. The Chennai-based company had reported a net profit of Rs 42 lakh during the same period last year.
Total income from operations for the October-December 2014 period grew to Rs 1,040.22 crore, from Rs 1,037.64 crore registered a year earlier.
For the nine-month period ended December 31, 2014, its net loss stood at Rs 7.15 crore as against Rs 5.29 crore during the year-ago period. For the April-December period, total income increased to Rs 3,410.75 crore, compared with Rs 3,372.14 crore in the same period last year. "Our capacity utilisation has come down during the third quarter ending December 31, 2014 at 56 per cent.
It was 64 percent during the same quarter last year," India Cements Vice Chairman and Managing Director N Srinivasan told reporters here. Sales volume including clinker was lower by eight per cent at 21.07 lakh tonne against 22.94 lakh tonnes a year ago. "Our net realisation was 3,707 tonne in October-December 2014 quarter, as against 3,459 tonne registered in the same period last year," he said.
Demand for cement in the Southern region almost remained flat while in Andhra Pradesh and Telangana there was no growth, he said.
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