India Cements Ltd. (ICL) has reported a 62 per cent jump in standalone net profit at Rs. 62.41 crore for the quarter ended September 30, according to a filing on the BSE.
The company had reported a net profit of Rs. 38.5 crore in the same period last year.
Its total standalone income rose 6.9 per cent to Rs.1,314.4 crore in the July-September quarter this fiscal, up from Rs.1,229.1 crore during the comparable period in 2015-16.
Total expenses were higher by 7.9 per cent at Rs.1,135.2 crore in the period.
Fresh penaltyThe Competition Commission of India (CCI) had imposed a fresh penalty of Rs.187.48 crore on the company in an order dated August 31, India Cements said.
The company said that it had filed an appeal before the Competition Appellate Tribunal (COMPAT), New Delhi.
The board of the company, which met on Saturday, also decided to grant share purchase options to select employees. The 20 lakh shares would be offered at a price of Rs.50 per share at a face value of Rs. 10 each.
