Binani Cement Q1 net dips 60 pc

Mumbai: Binani Cement, the flagship company of the Braj Binani Group, said its first quarter net profit fell 60% to Rs 43 crore.

“It was a tough quarter this year in terms of profits which got affected mainly due to increase in international coal prices and an increase in freight charges,” said a Binani Cement spokesperson. The company’s net sales fell 22% to Rs 430 crore for the quarter ended June 30, 2010, from Rs 525 crore in the same period last year.

Binani Cement expects to maintain margins for the whole year as it will start production of coal from Indonesia.