Financial Daily from THE HINDU group of publications
Thursday, Jan 30, 2003
Financial Daily from THE HINDU group of publications Thursday, Jan 30, 2003 |
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Corporate Results
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Cement Corporate - Financial Performance Chettinad Cement posts higher loss Our Bureau
CHENNAI: Chettinad Cement Corporation Ltd has posted a loss of Rs 13.72 crore on sales of Rs 59.01 crore in the third quarter of this financial year against a loss of Rs 7.84 crore on sales of Rs 45.82 crore for the same period last year. Consumption of raw materials was up at Rs 9.30 crore (Rs 7.17 crore) and power and fuel cost at Rs 27.38 crore (Rs 17.18 crore). The company attributed the results to the depressed cement prices and the poor demand, coupled with an increase in coal prices. Interest charges during the quarter were higher at Rs 11.92 crore against Rs 10.14 crore earlier. For the nine-month period ending December 31, 2002 Chettinad Cement Corporation reported a loss of Rs 41.14 crore on sales of Rs 183.52 crore against a loss of Rs 2.20 crore on sales of Rs 149.02 crore for the same period last year. During the April-December 2002 period, the company produced 9.91 lakh tonnes of clinker (5.5 lakh tonnes) and 12 lakh tonnes of cement (6.3 lakh tonnes), and dispatched 12 lakh tonnes of cement (6.2 lakh tonnes).
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