Lucky Cement has entered into an agreement with Hyderabad Electric Supply Company to supply 20MW of electricity at Rs7.5 per Kwh, according to a Elixir Securities research note.
The cement maker is expected to raise an additional net profit of Rs281 million annually resulting in earnings per share impact of Rs0.87 per share in fiscal 2012, note adds. The company expects to start selling electricity to Hyderabad Electric Supply Company in the first quarter of 2012.
Published in The Express Tribune, June 3rd, 2011.
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