Orient Cement Q2 Results

Orient Cement Net Profits Dips by 35% For Q2

Orient Cement, part of the US$1.6 Billion CK Birla group reported for the September quarter a 35% drop in its net profit on account of lower income and higher expenses and finance costs.

The cement company has registered a net profit of Rs 28.01 crores as against Rs.43.33 crore for the corresponding quarter in the last fiscal. Its net sales declined to Rs 355.04 crore in the September quarter of the current fiscal as against Rs 384.12 crore in the same quarter of the last fiscal. Total expenditure of the company rose to Rs 331.09 crore during the September quarter as against Rs 318.06 crore in the same quarter of the last fiscal. Finance cost of the company during the September quarter increased to about Rs 5 crore as against about Rs 4 crore in the same quarter of the last fiscal.

Orient Cement has an installed cement capacity of 5 MPTA. As part of its long-term growth plan to reach 15 MTPA cement capacity by year 2020, Orient Cement is setting up a facility of three MTPA at Chittapur, Gulbarga, Karnataka at an investment of about Rs 2,000 crore.