India Cements' Q4 net profit up 3%

Mumbai  :  India Cements on Friday reported a rise of 2.88 per cent in its standalone net profit for the quarter ended March 31, 2018.

In a regulatory filing to the BSE, the company said its standalone net profit for the quarter stood at Rs 35.27 crore, against Rs 34.28 crore reported in the corresponding period of 2016-17.

However, the standalone total income of the company fell by 8.04 per cent during the fourth quarter of 2017-18 to Rs 1,401.73 crore, from Rs 1,524.29 crore earned in the same period of the previous year.

The net profit of the cement major rose despite a fall in total income due to a decline in its expenditure.

The company reported a standalone total expenditure of Rs 1,377.49 crore for the period, lower by 6.83 per cent, compared to Rs 1,478.54 crore reported during January- March, 2016-17.

For the financial year 2017-18, the standalone net profit of the company, however, fell around 42 per cent to Rs 100.62 crore, from Rs 173.35 crore reported in FY17.

The company's board of directors recommended a dividend of Rs 0.80 per equity share of Rs 10 each for 2017-2018, it said.