Sagar Cement announced that an asset purchase agreement has been executed for acquisition of the entire assets of two mini hydel power plants in the State of Andhra Pradesh from Sagar Power.

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The Board of Sagar Cements at its meeting held on 26 February 2018 while approving the corporate budget for 2018-19 has also accorded its approval for the allocation of the entire assets of the two mini hydel power plants, one with a capacity of 4.3 MW located at Guntur Branch Canal, Narasaraopet, Guntur District and the other with a capacity of 4 MW located at Lock-in-sula, Atmakur, Kurnool in the state of Andhra Pradesh both belonging to Sagar Power, a related party, for a sum not more than Rs 26.90 crore.

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Net profit of Sagar Cements reported to Rs 3.01 crore in the quarter ended December 2017 as against net loss of Rs 0.54 crore during the previous quarter ended December 2016. Sales rose 30.41% to Rs 249.40 crore in the quarter ended December 2017 as against Rs 191.24 crore during the previous quarter ended December 2016.

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Net profit of Sagar Cements rose 473.45% to Rs 10.15 crore in the quarter ended December 2017 as against Rs 1.77 crore during the previous quarter ended December 2016. Sales rose 47.27% to Rs 180.20 crore in the quarter ended December 2017 as against Rs 122.36 crore during the previous quarter ended December 2016.

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