Economy & Market
Sluggish demand hits Kesoram
Kesoram Industries reported a net loss of Rs. 197.98 crore for Q4 March 2011 compared with a net profit of Rs. 26.09 crore in Q4 March 2010. Net sales rose 18.9 per cent to Rs 1495.03 crore in Q4 March 2011 over Q4 March 2010. Kesoram Industries said its performance for the quarter and year ended March 2011 was affected primarily due to sluggish demand and decrease in cement prices in southern India and steep hike in rubber prices in the tyre unit.