India: The B K Birla Group company Mangalam Cement has posted a US$386,116 loss for the third quarter of its 2015 fiscal year due to higher finance costs. This compared to a US$75,614 net profit in the October – December 2013 quarter. Mangalam Cement's board has also approved building a new grinding plant at Aligarh, Uttar Pradesh, with a capacity of 500,000t/yr.
Mangalam Cement's total income rose to US$34.3m in the third quarter of its 2015 fiscal year, up from US$26m during the same period of 2013. Expenses also rose to US$34.2m from US$28.1m in the prior-year quarter. Mangalam Cement consumed raw materials worth US$6.59m, up from US$4.5m during the comparable quarter of 2013. Finance costs went up to US$1.71m in the October – December 2014 period, from US$371,637 in the same period of 2013.