India Cements has reported a 10 per cent drop in net profit for the fourth quarter ended March 31, 2009, compared with the corresponding period in the previous year. The company has announced a dividend of Rs 2 (20 per cent) an equity share of Rs 10 for 2008-09. According to the company’s Vice-Chairman and Managing Director, Mr N. Srinivasan, higher costs of raw material, fuel, depreciation charges and foreign exchange losses have contributed to the drop in profits during the year, despite better realisation from cement. Output and movement of cement was also hit due to the prevailing power shortage in Andhra Pradesh. For the year ended March 31, 2009, India Cements Ltd has reported a 32 per cent drop in net profit over the previous year at Rs 432 crore (Rs 637.5 crore), while income grew 10 per cent to Rs 3,907.5 crore (Rs 3,567.98 crore). Cement production was 91 lakh tonne (92 lakh tonne) with matching sales. Gross realisation from cement was up at Rs 4,116 a tonne (Rs 3,836). Indi...
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