India Cements' Q3 net profit plunges 98%

Lower income led India Cements’ net profit to decline by 98 per cent to Rs 0.42 crore in the quarter ended December 31, 2013.

The company had earned Rs 26.12 crore net profit during the October-December period of the last fiscal, it said in a BSE filing.

Total income fell to Rs 1,037.64 crore from Rs 1,083.88 crore.

Lower income is the primary reason for the sharp fall in net profit as expenditure remained nearly static at Rs 960.80 crore compared with Rs 960.43 crore a year ago.