The non controlling interest was a share of loss of Rs 0.45 crore compared to a share of profit of Rs 0.13 crore. Thus the net profit after minority interest was up by 32% to Rs 152.20 crore. With other comprehensive expense attributable to owners down by 48% to Rs 6.39 crore the total comprehensive income attributable to owners of parent company was eventually higher by 42% to Rs 145.81 crore.

• Production volume for the quarter was up by 1% to 61298 Mt and that of sales was up by 14% to 66374 MT. But with unit realisation higher by 4% to Rs 108562.42/MT the operational income net of GST/excise but excluding other operating income for the quarter was higher by 18% to Rs 720.57 crore. Other operating income was down by 40% to Rs 23.28 crore. The other operating income is fully made of export benefits.
• Strong 230 bps crash in OPM to 22.4% was largely due change in sales mix. The share of mining sales volume stood increased to 56.6% for the period up from 50.7% in the corresponding previous period. The share of others including cement etc was lower at 43.3% down from 49.3%.
• Material cost as proportion to sales (net of excise and stocks) was up by 210 bps to 40.5%. The staff and OE were lower by 20 bps (to 3.9%) and 50 bps (to 32.5%) respectively. Thus hit by lower OPM, the growth at operating profit was restricted to just 4% to Rs 166.58 crore.
• Other income was up by 99% to Rs 49.51 crore. The interest cost up by 100% to Rs 2.85 crore and the depreciation was down by 33% to Rs 13.98 crore. Thus the PBT was up by 23% to Rs 199.25 crore.
• Taxation was up by 1% to Rs 47.50 crore but the tax rate was lower at 23.8% for the quarter compared to 29.1% in corresponding previous period. Thus the PAT was higher by sharp 32% to Rs 151.75 crore.

Yearly performance

Consolidated sales was up by 9% to Rs 2445.13 crore but with 640 bps contraction in OPM, the fall at operating profit was 16% (to Rs 535.70 crore). After accounting for higher other income, higher interest & depreciation cost as proportion to OP, the PBT was down by 12% to Rs 585.01 crore. The taxation was down by 31% to Rs 141.39 crore and thus the PAT was down by 3% to Rs 443.62 crore. Eventually the total comprehensive income attributable to owners of the company was down by 4% to Rs 422.62 crore after accounting for higher other comprehensive expenses attributable to parent of the company and lower non controlling interest.

Order book

Order book at the start of Apr 1, 2018 was Rs 744 crore.