Small BusinessBinani Cement Q3 net rises 573%
Increased capacity and demand have helped cement manufacturer Binani Cement post a whopping 573 per cent jump in net profit at Rs 57 crore in the third quarter this fiscal compared to the same period last year.
"Demand has come up from the Commonwealth Games. Moreover, because of the Telangana issue in Andhra Pradesh which now looks like settling down will now revive activity in the south," Binani Cement"s Managing Director Vinod Juneja told reporters here today.
Net sales in the third quarter were up 12 per cent at Rs 402 crore compared with Rs 360 crore in the year-ago period. Net profit in the year-ago period was Rs 8.5 crore.