Sanghi Industries reports Rs 41.9 cr profit in Q3

Cement manufacturer Sanghi Industries posted a 234% jump in net profit to Rs 41.9 crore for the third quarter ended March 31 as against a net profit of Rs 12.5 crore for the same quarter in previous financial year. Net sales in current fiscal’s Q3 was at nearly the same level at Rs 298.1 crore from Rs 297.1 crore in previous year’s Q3.
 
For the nine months of current financial year, profit after tax (PAT) zoomed to Rs  81.6 crore against a net loss of Rs 21.8 crore for first nine months in last fiscal. Net sales for current nine months were up by 17.3% at Rs 797.7 crore as against Rs 680 crore in the corresponding period of last year.
 
Alok Sanghi, Director of the company said, “Our strategy of diversifying sales to markets in Maharashtra and Rajasthan and not depending entirely on Gujarat has begun to pay off as we are able to operate at near full capacity and thus derive higher profit margins. Additionally, cost saving measures like debt reduction, higher captive power generation and increasing utilisation of cheaper sea route for transport of cement have given a further boost to profit margins.”

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