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Orient Cement Q2 net profit drops 61%

October 30: Delhi-based Orient Cement Limited reported a 60.54% drop in net profit to Rs 144.50 crore in the quarter ended September 2013 (Q2, 2013-14) compared to Rs 366.15 crore net profit earned in the same period last year (quarter ended September 2012-13), according to company information.

Following are the Q2 results of Orient Cement Limited in 2013-14 and 2012-13 (in Rs crore) (unaudited):

On a quarter-to-quarter basis, net profit of the company fell 61.28 % compared to a net profit of Rs 373.15 crore in the quarter ended June 2013.

It is believed that the volatile rupee dollar ratio at the beginning of second quarter is one of the reasons for drop in the net profit.

Net sales for the quarter (Q2, 2013-14) dropped 9.53 % to Rs 321.21 crore in Q2 2013-14 compared to Rs 355.02 crore in the corresponding period last year (Q2,2012-13).

With this, the company's net profit for the first six months (April-September) of 2013-14 stood at Rs 517.65 crore compared to Rs 942.40 crore in the corresponding period (April-September) in 2012-13.