Leading cement manufacturer Sanghi Industries Ltd on Friday reported a 276 per cent rise in net profit and a 5 per cent increase in income during the company’s second quarter ended December 31, 2015, compared to the corresponding period last fiscal.
While the company’s net profit was Rs 26.8 crore (Rs 7.1 crore), its income stood at Rs 257.7 crore (Rs 244.3 crore), Alok Sanghi, Director, said in a statement here.
He said that despite lacklustre demand, the company posted good revenue growth due to geographical expansion.
“We expect revenue growth to improve in the next two quarters as our new grinding unit is operational. Coastal shipping is the major focus area for the company as of now as through coastal route, we can reach markets that are far off from Gujarat.”
The company’s power and fuel cost per tonne has reduced substantially due to drop in coal and lignite prices.