Gujarat-based cement company Sanghi Industries Ltd, reported a 49 times growth in net profit for the fourth quarter ended June 30 to Rs 103.69 crore, from Rs 2.12 crore in the corresponding quarter last fiscal on the back of robust growth in net sales.
Net sales during the quarter also grew by 51 per cent on a year-on-year basis to Rs 294.22 crore, over Rs 194.46 crore in the year-before period.
For the full year ended June 30 (the company follows a July-June financial year), Sanghi Industries reported a net profit of Rs 81.87 crore as against a loss of Rs 29.55 crore in the previous fiscal. Net sales during the year rose by 8.3 per cent to Rs 974.07 crore as against Rs 899.48 crore during last year. The earnings per share (EPS) for 2011-12 stood at Rs 3.72 as against a negative EPS of Rs -1.34 in previous year.
Commenting on the financial performance of the company, Alok Sanghi, director of Sanghi Industries Ltd. said, “This year we reported a decent profit to come back in the black.”