India: Mangalam Cement returns to profit with 1QFY16-17 results

Mangalam Cement, part of India’s Birla Group, has published its business results for the first quarter of FY16-17. These see the company return to profit after reporting a loss of INR205m (US$3m) in FY15-16.

In the three months to June 2016, Mangalam Cement made a profit of INR226m (US$3.4m) as compared to an INR205m (US$2.8m) loss in the same period last year.

Total revenues were up by 5.5 per cent to INR2.25bn (US$33.7m), while expenses were down by 17 per cent to INR1.86bn (US$27.9m).