Sagar Cements' Q1 net down 41% to Rs 5.82 crore

Sagar Cements on Thursday reported a 41.62 per cent decline in its net profit to Rs 5.82 crore for the first quarter of the current fiscal. The company had posted a net profit of Rs 9.97 crore during the April-June quarter of the previous fiscal. Its total income for the June quarter of 2018-19 was down 8.38 per cent to Rs 275.44 crore as compared to Rs 300.65 crore in the year-ago period, the bank said in a regulatory filing. "Our Waste heat recovery plant remained shut down for a brief period from 9th June to 30th June, to enable its upgradation from 6 MW capacity to 8.8 MW capacity. But for this, our profitability would have been still better," Sagar Cements Executive Director Sreekanth Reddy said.