India Cements Q1 net at Rs 183cr
India Cements today reported a net profit of Rs 183.40 crore for the first quarter ended June 30, 2007 as against Rs 112.59 crore in Q1FY07.
According to a release issued to the BSE today, total income increased to Rs 710.91 crore from Rs 490.66 crore in Q1FY07.
"Pursuant to the order dated July 25, 2007, the entire undertaking and business of Visaka Cement Industry as a going-concern stood transferred and become vested with India Cements (transferee) effective July 1, 2006, being the appointed date fixed in the sanctioned amalgamation scheme. Consequently, the accounts for the financial year ended March 31, 2007 and for the current quarter are prepared after taking into account the transactions of Visaka Cement Industry Ltd and therefore, the figures are not comparable with those of the previous period," the release added.
India Cements today reported a net profit of Rs 183.40 crore for the first quarter ended June 30, 2007 as against Rs 112.59 crore in Q1FY07.
According to a release issued to the BSE today, total income increased to Rs 710.91 crore from Rs 490.66 crore in Q1FY07.
"Pursuant to the order dated July 25, 2007, the entire undertaking and business of Visaka Cement Industry as a going-concern stood transferred and become vested with India Cements (transferee) effective July 1, 2006, being the appointed date fixed in the sanctioned amalgamation scheme. Consequently, the accounts for the financial year ended March 31, 2007 and for the current quarter are prepared after taking into account the transactions of Visaka Cement Industry Ltd and therefore, the figures are not comparable with those of the previous period," the release added.