Madras Cements declines on reporting 44% fall in Q1 net profit

29 Jul 2013

Madras Cements is currently trading at Rs. 170.10, down by 4.90 points or 2.80% from its previous closing of Rs. 175.00 on the BSE.

The scrip opened at Rs. 179.00 and has touched a high and low of Rs. 179.00 and Rs. 167.00 respectively. So far 13245 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 269.00 on 15-Mar-2013 and a 52 week low of Rs. 154.65 on 27-Jul-2012.

Last one week high and low of the scrip stood at Rs. 201.60 and Rs. 167.00 respectively. The current market cap of the company is Rs. 4055.00 crore.

The promoters holding in the company stood at 42.32% while Institutions and Non-Institutions held 35.52% and 22.17% respectively.

Madras Cements has reported results for first quarter ended June 30, 2013.

The company has reported 44.03% fall in its net profit at Rs 68.85 crore for the quarter as compared to Rs 123.01 crore for the same quarter in the previous year. Total income of the company has decreased by 0.36% at Rs 989 crore for quarter under review as compared to Rs 992.55 crore for the quarter ended June 30, 2012.

Madras Cements (MCL) was established in 1957, is part of Ramco Group, a well known business group of South India. It is based at Chennai. The company is the fifth largest cement producer in the country. Ramco Supergrade is the most popular cement brand in South India.

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