Madras Cement quarterly net profit down 44%

Madras Cement’s net profit for the first quarter of 2013-14 dropped by 44 per cent compared to the corresponding quarter of last year.

Net profit for the quarter ended 30 June 2013, stood at INR68.85 crore on a total income of INR 987.18 crore.

Expenditure rose by 11 per cent to INR839.70 crore.

The company has deposited INR25.86 crore, which is 10 per cent of the penalty levied by the Competition Commission of India for alleged cartelisation, pending final judgment, the release said.