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Sagar Cements Ltd’s net profit decreased to Rs 4 crore in the third quarter ended December 31, 2012 from Rs 17.65 crore in the year-ago period.
The revenue of the Hyderabad-based company also declined 10.73 per cent to Rs 136 crore (Rs 152 crore), the company informed the Bombay Stock Exchange.
“The quarter under review has been a challenging one for companies like ours operating in the South due to capacity additions and a difficult demand scenario,’’ Sreekanth Reddy, Executive Director, Sagar Cements, said in the investor presentation.
With the coal costs mix slowly shifting towards domestic coal, the company was able to reduce its dependence on the high-priced South African coal, resulting in lower fuel costs per tonne of clinker, he added.
The Sagar Cements scrip was trading at Rs 250 on the Bombay Stock Exchange on Thursday.
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