India Cements records Rs 62 crore in net profit

Chennai: Cement major India Cements Ltd on Saturday said it closed the second quarter of fiscal 2016-17 with a profit of Rs 62.41 crore.

In a regulatory filing in BSE, the company said it has posted a net profit of Rs 62.41 crore for the quarter ended September 30, 2016 as compared to Rs 38.50 crore for the quarter ended September 30, 2015.

The company said its total income has increased from Rs 1,229.10 crore for the quarter ended September 30, 2015 to Rs 1,314.44 crore for the quarter ended September 30, 2016.

India Cements also said the Adjudicating Authority has confirmed the Rs 120.34 crore worth of assets attachment order passed by the concerned authority under the Prevention of Money Laundering Act, 2002.

The company said it has appealed against the Adjudicating Authority`s order with the Appellate Authority.