The India Cements Ltd. has reported a lower profit after tax (PAT) of Rs.26.12 crore in the third quarter ended December 31, 2012, down from Rs. 56.31 crore in the corresponding quarter of the previous year.
Total income from operations was up to Rs. 1,083.88 crore (Rs.943.95 crore).
According to a release, the company managed to maintain EBIDTA (earnings before interest, depreciation, tax and amortisation) at Rs.196 crore (Rs.197 crore) during the quarter under review.
Addressing a press conference here on Thursday, N. Srinivasan, Vice-Chairman and Managing Director, said “maintaining the EBIDTA margin (at 18 per cent) in a difficult condition is in itself a big achievement.’’
In this context, he pointed to several cost-push factors such as increased freight cost, hike in diesel prices and increase in power tariffs. The nearly 12-day in a month power holiday in Andhra Pradesh had not helped the cause of ICL, which was forced to go in for high cost power. The net plant realisation was Rs. 3,360 a tonne, down from Rs. 3,536 in the second quarter of this fiscal and Rs.3,460 in the third quarter of last year.
Fielding a range of questions, Mr. Srinivasan said the 50 MW captive power plant at Vishnupuram would go on stream by July.
He also expressed optimism that ICL would be able to sell its surplus power at Sankar Nagar facility. Once these fructified, the company could save nearly Rs.7-8 crore a month in power cost alone.
Mr. Srinivasan said the demand was picking up slowly. He was confident that ICL would show improved EBITDA in the current quarter.
Madras Cements has recommended second interim dividend Re. 1 per share of Re. 1 face value for the year ending March 31, 2013.
The company has reported a 21.6 per cent rise in total income at Rs. 904.95 crore for the third quarter ending December 31, 2012, against Rs. 744.07 crore in the same period in the previous year.
The net profit after tax was higher by 8.8 per cent at Rs. 83.60 crore against Rs. 76.84 crore in the year-ago period.
Arvind Remedies increased its net sales by 66 per cent to Rs. 179.90 crore in the third quarter ended December 31,2012, from Rs. 108.40 crore in the year-ago period.
The net profit was up by 69 per cent at Rs. 12.21 crore against Rs. 7.22 crore.