Orient Cement Ltd has reported a 13 per cent growth in revenue and 15 per cent growth in volume for the quarter ended June 30. The operating profit for the quarter was ₹89 crore and Net profit was ₹16 crore.
During this quarter, Orient Cement also launched its new super strong premium cement under the Birla A1. StrongCrete brand in select markets of Telangana and Maharashtra.
While the operating results are better than the preceding quarter (Q4FY18), they have been impacted negatively compared to the same quarter last year due to lower prevailing prices of cement in our markets.
The industry expects cement demand to strengthen further post-monsoon as various government projects in infrastructure construction and affordable housing resume activity in the pre-election months. Various other government projects for irrigation, metros as well as new initiatives like ‘Smart Cities’ and ‘Swachh Bharat’ will also continue to generate demand for cement in our core states. Pricing support to agriculture from the Centre is expected to drive income levels and retail demand for housing construction in rural and semi-urban areas.