The loss is chiefly by reason of the lower capacity utilization
India Cements Ltd has posted a exact loss of Rs 11.68 crore for the quarter ended December 31, 2014, as contrasted to Rs 0.42 crore total income for the duration of the same period of preceding financial year. The net profits stood at Rs 1040.6 crore for the quarter, as contrasted to Rs 1038.47 crore for the matching quarter of preceding financial year.
The loss is because of the lower capacity exploitation, told N Srinivasan, vice chairman as well as managing director, India Cements.
With the delivery overhang in the south, the souk dynamics has forced the business to operate at lower capacity exploitation in the region. Whereas the quarter observers the fuller impact of the price push of previous quarters of boost in EB tariffs and royalty, minor relief was accessible through decrease in cost of diesel and through further revival in selling costs, which together assisted in extenuating the loss for the quarter, told the company.
Capacity exploitation wsa 56% contrasted to 63% a year ago. The total plant realization enlarged on Rs 3,707, as contrasted to Rs 3,459 a year ago. Amount saw a dip to 20.05 mt contrasted to 22.37 mt a year ago, told the corporation.
Recovery in the marketing cost by way of enlarged total plant realization counteract the price enlarge and fall in amount and resulted in an Ebidta of Rs 163 crore as beside Rs 146 crore.
Interest charges were higher by reason of higher exploitation of working capital as well as one time charges and was at Rs 104 crore beside Rs 80 crore whereas the reduction was marginally lesser at Rs 66 crore beside Rs 69 crore resulting in a loss prior to outstanding item of Rs 7 crore, beside a loss of Rs 2 crore, a year ago, told the corporation.
For the meantime, India Cements Capital, a part of India Cements told that its Board of Directors has permitted meeting of S Rupa Gurunath and V M Mohan as Additional Directors of the corporation as well as V Manickam as an Independent Director instead of N Srinivasan (F&R) who has reconciled his directorship with result from October 01, 2014.
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