Profits have increased on account of twin amalgamations during the period. The company has amalgamated with Samruddhi cement Limited and ETA Star Cement, UAE.
Due to this, net sales of the company have surged significantly by 144% from Rs 1,78,984 lakhs to Rs 4,36,536 lakhs. Also other operating incomes of the company went up sharply by 98% from Rs 1,972 lakhs to Rs 3,903 lakhs year-on-year.
Total expenditures during the quarter went up by 129% from Rs 1,48,557 lakhs to Rs 3,40,022 lakhs year-on-year. Expenditures have increased on account of increased consumption of raw materials as well as increased employee costs. Despite this operating profits during the quarter posted a significant growth of 210% from Rs 32,399 lakhs to Rs 1,00,417.
Interests costs during the quarter surged by 160.6% from Rs 2,786 lakhs to Rs 7,262 lakhs. This increase in interest payments during the quarter is on account of increased borrowings to fund the expansions of the business. Also tax payments rose significantly by 236% from Rs 8,191 lakhs to Rs 27,520 lakhs on account of increased revenues.