India: India Cement’s sales revenue has risen by 19% year-on-year to US$187m in the quarter than ended on 31 December 2016 from US$156m in the same period in 2015. Clinker and cement sales volumes rose by 22% to 2.36Mt from 1.94Mt. The cement producer said that it found the result ‘gratifying’ in view of the uncertainty created by the government’s demonetisation policy from November 2016 although the company had not experienced any negative impact itself. It also reported that a ‘steep’ price increase for petcoke and imported coal had been noted during the period.
Overall, India Cement’s income rose by 8% to US$558m for the nine months of 31 December 2016 from US$518m in the same period in 2015. Its profit rose by 78% to US$20.9m from US$11.7m.