Coal news and updates

India Cements registered a 40% jump in its fourth quarter net profit at 51.21 crore up from 36.60 crore clocked in the year-ago period. The company's total income rose to 1,154.14 crore from 1,043.10 crore last Q4.

 

For the year 2015-16, net profit jumped to 134.38 crore from a loss of 3.31 crore and revenue dropped by 3.79% to 4,889.63 crore from 5,082.66 crore, going by the consolidated figures. Standalone figures show an increase in the net profit to 137.81 crore from 29.45 crore. The increase in net profit was mainly due to reduction in power and fuel cost which dropped by 5.3% to 258.88 crore during the fourth quarter from 273.54 crore the year before. Finance costs also dropped by 19.4% to 85.30 crore from 105.84 crore last Q4. "We have turned around; we are back in black. Going forward, we see improved performance with costs under control and demand trigger coming from the expected normal monsoon and increased expenditure on infrastructure, roads and other projects," said N Srinivasan, managing director and vice chairman, India Cements. 

Source: TOI