India Cements reports 20% drop in June quarter net profit

NEW DELHI: India Cements on Saturday reported a 20.46 per cent YoY drop in net profit at Rs 21.03 crore for June quarter. The company had reported Rs 26.44 crore profit in the year-ago quarter.

Sales for the quarter came in at Rs 1,360 crore, down 6 per cent YoY over Rs 1,461 crore in the year-ago quarter.

Ebitda fell 15 per cent to Rs 155.90 crore for the quarter compared with Rs 185.50 crore in the corresponding quarter of last year, ET Now reported.

The company will hold its annual general meeting (AGM) on September 20 and will decide on payment of dividend for FY18 the same day.

The board of directors of the company has approved September 13 as record date for shares held in in physical form for the purpose of determining shareholders entitled for dividend.

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