However, during the half year ended September 1998, the net profit was maintained at 21.10 crore against Rs 21.21 crore same period last year. The company had earned a net profit of Rs 13.44 crore in the entire fiscal 1998.

The net sales, income from operations during the first half amounted to Rs 1191.87 crore (Rs 1172.87 crore). The gross profit before interest higher amounted to Rs 153.98 crore (Rs 130.78 crore).The provision for interest higher amounted to Rs 79.34 crore (Rs 58.27 crore).The company has earned a slightly higher gross profit of Rs 74.64 crore (Rs 72.51 crore).

The operating expenses during the quarter were maintained at a lower level despite an allround inflation in coal, power and manpower costs etc. The economic slow-down and the considerable supply overhang of cement continued during the quarter.

The provision for depreciation amounted to Rs 51.06 crore (Rs 40.62 crore) and for taxation at Rs 2.48 crore (Rs 2.50 crore).