Sanghi Industries swings to full year profit, India

India-based cement producer Sanghi Industries Ltd reported a net profit in fiscal year 2011-12 compared to a loss in the previous year as margins and sales improve in the fourth quarter.

The company reported a net profit of INR81.87 crore for the fiscal year ended 30 June 2012 compared to a loss of INR29.55 crore in the previous fiscal.  Net sales rose 8.3 per cent to INR974.07 crore in FY11-12 compared to INR899.48 crore a year earlier.

Commenting on the financial performance of the company, Sanghi Industries director Alok Sanghi said: "This year we reported a decent profit to come back in the black. In the fourth quarter we not only posted better margins, but also higher growth in sales compared to what we achieved in the previous quarter. Our continuous efforts to improve efficiency and control expenditure have helped us to significantly improve profits."