Madras Cements could report a higher net profit in the first three months ended June 30, 2012 due to a 21 per cent rise in cement sales and better realisation. The turnover, including other income, has risen by 29 per cent to Rs. 997.04 crore from Rs. 770.01 crore in the same period in the previous year. Cement sales, including self consumption, increased to 21.58 lakh tonnes from 17.79 lakh tonnes. The wind farm division has generated 1144 lakh units as compared to 943 lakh units in the year-ago period. Income from this division stood at Rs. 40.95 crore against Rs. 32.08 crore.
The profit after tax has increased by 25 per cent to Rs. 123.01 crore from Rs. 98.30 crore in the same period in the previous year.
During the quarter under review the company commissioned its 25 MW thermal power plant at Ramasamy Raja Nagar (Tamil Nadu).
The Competition Commission of India has imposed a penalty of Rs. 258.63 crore on the company for alleged cartelisation. The company has not made any provisions in the accounts as it proposes to appeal against the order.