NEW DELHI (INDIA): Cement manufacturer OCL India Ltd today reported a 154 per cent rise in standalone net profit at Rs 85.71 crore for the quarter ended September 30, mainly on the back of higher income from operations.
The company had posted a net profit of Rs 33.69 crore in the year-ago period, OCL India Ltd said in a filing to BSE.
The total income from operations of the company increased to Rs 719.19 crore from Rs 613.84 crore in the year-ago period.
The total expenses increased to Rs 616.35 crore over Rs 572 crore in the corresponding quarter previous fiscal.
“The scheme of arrangement and amalgamation amongst OCL India Ltd, Dalmia Cement East Ltd, Shri Rangam Securities & Holdings Ltd, Dalmia Bharat Cements Holdings Ltd and Odisha Cement Ltd filed with the jurisdictional High Court (s) is pending for approval of the respective High Court (s). The accounting for amalgamation will be done on the scheme becoming effective,” the filing said.
OCL is the flag ship company of Dalmia Group, operating from eastern part of the country.
The net worth of the company as on September 30, 2016 is Rs 2,186.49 crore.
Source: Press Trust of India