Kesoram Industries reports Rs 9.49 crore net profit in Q1

Kolkata, Aug 11 (IANS) B.K. Birla Group flagship Kesoram Industries on Thursday reported a net profit of Rs 9.49 crore for the quarter ended June 30, as compared to a net loss of Rs 164.74 crore in a year-ago period.

The company’s net sales during the period under review dipped nearly 9 per cent year-on-year to Rs 975.35 crore from Rs 1,070.84 crore in the corresponding period in 2015.

Demands for cement in the country’s Southern and Western regions were sluggish during the June quarter, a company release said, adding it was strengthening and consolidating its product portfolio in the tyre division.

In the quarter under review, revenue from tyres business stood at Rs 465.85 crore as against Rs 531.33 crore in the year-ago period. Cement business revenue was at Rs 509.50 crore in the June quarter, down from Rs 539.51 crore in the same period in 2015.

Total debt of the company reduced as a consequence of which finance costs were down by close to 50 per cent, a statement said.



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