Kolkata-based cement manufacturer, Binani Cement has announced its quarterly results for the quarter ended June 30, 2007. It recorded net earnings of Rs 506.7 million on sales of Rs 1,956.2 million.

The company posted total income of Rs 1,974.1 million for the quarter, whereas its earning per share (EPS) stood at Rs 2.49.

It entered the capital markets in May 2007 with an initial public offering (IPO) of 20.5 million shares in the price band of Rs 75 to Rs 85 a share.

The share price of the company closed up Rs 2.55, or 3.80%, at Rs 69.60. The total volume of shares traded during the day stood at 363,178.

Binani Cement Limited is a wholly owned subsidiary of Binani Industries Limited, on 1st November 1997. It has plants to make 2.25 MTPA of cement together with 25 MW coal/lignite based captive power plant at Sirohi, Rajasthan. It mainly works in Gujarat, Rajasthan, Delhi and Haryana. It also has technical collaboration with F. L Smidth and Co., Denmark and Larsen and Toubro.