India Cements’ Q3 profit falls 79% to Rs 3.13 crore
India Cements on Monday reported a 79.46% fall in net profit in the third quarter ended December 2018, at Rs 3.13 crore against Rs 15.24 crore in the corresponding quarter ending December 2017. The company’s total income was up 8.5% to Rs 1,320.57 crore from Rs 1,216.75 crore in the same period in 2017.
The company said in a statement that the heavy competition amongst cement manufacturers for market share, increase in prices of fuel and petroleum along with the depreciation in the rupee weighed on its performance in the quarter.
India Cements’ total expenses stood at Rs 1,317.44 crore as against Rs 1,201.51 crore in the corresponding quarter, an increase of 9.64%.