Sagar Cements’ Q1 net down 41% to Rs 5.82 crore

Sagar Cements’ Q1 net down 41% to Rs 5.82 crore
20/07/2018 , by , in ALLIED

Sagar Cements on Thursday reported a 41.62 per cent decline in its net profit to Rs 5.82 crore for the first quarter of the current fiscal.

The company had posted a net profit of Rs 9.97 crore during the April-June quarter of the previous fiscal.

Its total income for the June quarter of 2018-19 was down 8.38 per cent to Rs 275.44 crore as compared to Rs 300.65 crore in the year-ago period, the bank said in a regulatory filing.

“Our Waste heat recovery plant remained shut down for a brief period from 9th June to 30th June, to enable its upgradation from 6 MW capacity to 8.8 MW capacity. But for this, our profitability would have been still better,” Sagar Cements Executive Director Sreekanth Reddy said.

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