India: Orient Cement has reported a 20% year-on-year decline in its net profit to US$4.37m for the first quarter of its 2016 fiscal year, which ended 30 June 2015, on the back of fall in revenues. Total income from operations decreased by 8.69% to US$54.8m. However, its earnings before interest, taxes, depreciation and amortisation (EBITDA) margin was stable at 17%, mainly due to lower raw material and power and fuel expenses. Orient Cement also announced that it has appointed Swapan Dasgupta as additional director in the category of Independent Director.
Orient Cement’s net profit down in the first quarter of 2016 fiscal year
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