Binani Cement earnings soar
Binani Cement reported a phenomenal rise in standalone net profit for the quarter ended March 2011. The net profit saw a whopping 244 per cent growth YoY. During the quarter, the profit of the company rose 3.44 times to Rs 581.50 million from Rs 169 million in the same quarter last year. Net sales for the quarter rose by 10.88 per cent to Rs 5,453.70 million, while total income for the quarter rose by 9.90 per cent to Rs 5,488 million, when compared with the prior year period. It posted earnings of Rs 2.97 a share during the quarter, registering 3.58 times growth over previous year period.