Andhra Cements, a Hyderabad-based small cement maker, has posted decline of 18 per cent in its net profit for the quarter ended March, 2009, at Rs 14.2 crore compared with Rs 17.32 crore in the corresponding quarter last year. The company's net sales, however, grew to 110.72 crore from Rs 82.06 crore, up 34.93 per cent.
In the financial year ended March, 2009, too, the cement maker did not do well with net profit slipping to Rs 63.01 crore against Rs 66.54 crore in FY08 - a dip of 5.31 per cent. The net sales during the year stood at Rs 369.11 crore from Rs 331.32 crore, up 11.41 per cent.
Andhra Pradesh was one of the states in FY09 where prices were among the lowest at around Rs 205-210 for a bag of 50 kg cement at a time when country's average was around Rs 230 a bag.
The power and fuel costs of the company for the entire financial year 2008-09 stood at Rs 111.54 crore against Rs 92.52 crore,.
On the Bombay Stock Exchange, the company's share prices traded last on Friday at Rs 19.75, up 2.86 per cent.