India Cements on Saturday reported a 62.10 per cent jump in standalone net profit at Rs. 62.41 crore for the fiscal second quarter that ended in September, helped by lower finance cost and tax expenditures.
The Chennai-based cement maker had reported a net profit of Rs. 38.5 crore for the corresponding perid of last fiscal year.
Total income from operations grew to Rs. 1,314.44 crore during the quarter under review, up 6.94 per cent compared with Rs. 1,229.1 crore in the year-ago period, India Cements said in a filing to the BSE.
During the quarter, the company’s finance cost came down 11.08 per cent to Rs. 87.56 crore while its tax expenses declined 19.39 per cent to Rs. 29.25 crore.
On Friday, India Cements shares finished 4.19 per cent higher at Rs. 116.95 apiece on the BSE, whose benchmark Sensex index finished down 0.30 per cent.