The company did post a good set of numbers but for the higher base effect last Q1 – in Q1FY17, the company had received dividend from ACC and that had inflated the bottomline. This time around, a 21% (YoY) increase in power and fuel costs and 15% rise in raw material costs shaved off gains. Thus despite a 12% rise in revenue at Rs.2861 crore, the company ended the quarter with a net profit at Rs.392 crore, down 13%.

EBITDA for the quarter came in at Rs.651 crore, up 9% and margins fell 70 bps to 22.75%.

During the quarter, the company sold 6.05 mtpa of cement, up 5% and realization rose over 6% at Rs.4667/tonne.