Binani Cement net profit up 34.83pc at Rs 50.67cr

New Delhi, July 5 (UNI) Rajasthan-based Binani Cement Ltd today said it has posted a 34.83 per cent jump in its net profit at Rs 50.67 crore during the first quarter ended on June 30, 2007 as compared to Rs 37.58 crore in the corresponding period last year.

The net sales rose by 12.34 per cent at Rs 195.62 crore during the quarter as against Rs 174.12 crore in Q1FY06.

''We could sustain growth and register profits due to improvements through product-market optimisation, higher sales of blended cement and other cost reduction measures,'' a company spokesperson said in a statement.

In order to optimise freight costs and to increase penetration in the northern markets, the second split grinding mill is now being installed at Neem Ka Thana located in north Rajasthan, to be completed by the last quarter of 2007, the statement added.

The overall cement production capacity of the company will increase to six MT per annum.

UNI