INDIA CEMENTS LTD
Article Abstract:
The sales of India Cements Ltd (ICL), a cement producer, grew by 11.4 percent in 1997-98. Its net profit fell by 30 percent. The loss of a shipping vessel also affected ICL as the earnings from the shipping operations fell substantially. The cement division of ICL recorded sales of 30.06 lakh tonnes in 1997-98. It took over a cement factory of the Cement Corporation of India Ltd (CCI) and acquired a 90 percent stake in Raasi Cements. It also acquired a cement unit of Visaka Industries (VI) and increasing its capacity to 0.9 million tonne. (ag) --------------------------------------------------------- Financial performance of India Cements Ltd --------------------------------------------------------- Particulars 1997-98 1996-97 (Rs in crore) --------------------------------------------------------- Net sales 927.31 832.50 --------------------------------------------------------- Operating profit 196.77 174.05 --------------------------------------------------------- Interest 83.77 47.40 --------------------------------------------------------- Gross profit 113.00 126.65 --------------------------------------------------------- Depreciation 50.24 44.07 --------------------------------------------------------- Net profit 58.26 82.58 ---------------------------------------------------------
Comment:
Posts operating profit of Rs196.77 crore in 1997-98, up compared to Rs174.05 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MADRAS CEMENTS' PAT DIPS 57%
Article Abstract:
Madras Cements Ltd has recorded a 57.43 percent drop in net profit for 1997-98. The company has maintained the dividend payout at 55 percent. (gsh) --------------------------------------------------------- Financial Results: Madras Cements Ltd (Rs in crore) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Net sales 475.28 404.07 --------------------------------------------------------- Operating profit 156.74 140.00 --------------------------------------------------------- Other income 2.40 4.45 --------------------------------------------------------- Interest charges 77.78 31.26 --------------------------------------------------------- Depreciation 41.99 31.00 --------------------------------------------------------- Net profit 33.10 77.74 ---------------------------------------------------------
Comment:
Records a 57.43% drop in net profit for 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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THE INDIA CEMENTS LIMITED
Article Abstract:
The India Cements Limited (ICL) recorded 6 percent growth in its sales and other income at Rs504.02 crore in the first half of 1998-99. Its operating profit increased by 9 percent at Rs116.23 crore (Rs106.53 crore in the first half of 1997-98). Its net profit was Rs25.67 crore (Rs47.08 crore). The fall in the net profit was due to higher interest cost and depreciation. ICL is hiving off its shipping division into a separate company effective from April 1, 1998. ICL is merging the cement division of Raasi Cement Ltd with itself. ICL is coming out with rights issue. The issue will be open for subscription in December 1998. Initially it will offer 25 percent of the issue at a share price of Rs6.25 each. These facts and figures have been given in the published extract of the speech of the Chairman of The India Cements Limited at the annual general meeting of the company held in Chennai on November 23, 1998. (gs)
Comment:
The India Cements Limited (ICL) recorded 6 percent growth in its sales and other income at Rs504.02 crore in the first half of 1998-99.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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