Cement player, India Cements' profit after tax rose 2.6 times in October-December quarter of FY12. From Rs 21.5 crore in a year ago quarter, profits increased to Rs 56.3 crore led by higher cement prices on a Y-o-Y basis, which went up by 17% plus in South India.
Net sales rose 21% to Rs 941.5 crore from Rs 780.99 crore (Y-o-Y). The company witnessed growth in southern markets after seven quarters and realisations in the region remained steady, VM Mohan, joint president - corporate finance of India Cements told CNBC-TV18. However, India Cements expects demand to pick-up in the southern market and aims to sustain growth at 10% ahead. "Tamil Nadu is planning to incur some expenditure on housing and Andhra Pradesh is planning to take up some rural housing works. We believe this trend could continue," he said. Capacity utilisation for the company remained low due to adverse weather conditions in the region, he added. Below is the edited transcript of MohanDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
