In the available 68 operating days during this quarter, the Company kept a tight control on costs and cash flow, and achieved an effective capacity utilisation of 60 per cent across its network of 54 plants around the country, it said.
The company’s consolidated net sales was at Rs 7,563 crore against Rs 11,229 crore over the corresponding period of the previous year. The normalised Profit after tax was Rs 906 crore compared to Rs 1,281 crore in the corresponding period of the previous year.
Analysts on an average had expected net sales of Rs 7,478 crore and net profit of Rs 507 crore for the quarter.
“During 1QFY21, cement Industry surprised positively both on volumes and realisations front (in the background of pandemic). The volume growth trend in monsoon quarter would be key to determine how FY21 may shape up. Prices were robust in 1QFY21 vs. 4QFY20. If the positive (or even a flattish) demand growth trends sustain during monsoons, there is a possibility of upgrades to our FY21 estimates,” Antique stock broking said in quarterly preview report.