Sanghi Industries Q1 net profit up 33%

Ahmedabad: Sanghi Industries Ltd has reported a rise of 33% in 2018 Q1 net profit. The company’s net profit stood at Rs 31.6 crore in Q1FY18 against Rs 23.75 crore in corresponding period of last year. The total income rose 4% to Rs.315.29 crore in Q1FY18 as compared to Rs.302.27 crore in Q1FY17.

Earnings before Interest, Depreciation and Tax ( EBIDTA) for Q1FY18 stood at Rs 68.15 crore, higher by 3% against Rs 65.94 crore in Q1FY17, the company said.

Alok Sanghi, Director, Sanghi Industries Ltd said, “There has been improvement in price realization in the first quarter of Q1FY18, which has improved our margins. However, cost was impacted due to higher fuel and diesel cost that in turn affected our logistics cost. Moving further, we expect very good cement demand in FY18 due to infrastructure projects announced by the government.”