Madras Cements' net profit jumped by 76% in the third quarter of the current financial year as compared with the corresponding period last year, according to a press release from the company.

For the quarter ended December 31st 2011, the company reported a net profit of INR 76.84 crore (INR 43.48 crore) on net sales of INR 741.04 crore (INR 579.21 crore). Interest outgo was INR 37.40 crore (INR 35 crore).

A company official said that tight control on costs, including energy costs and interest costs, thanks to captive power plants and fixed rate loans, have contributed to the performance.

The company has commissioned 36 MW of thermal power at each of its cement units in Alathiyur and Jayanthipuram and 40 MW at Ariyalur, where an additional 20 MW is under execution. The company's long term loans are on fixed interest rate basis with resets happening this year. So the interest costs are also under control, the official said.

(Sourced from BL)