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  1. India Cements Q1 results: Cement maker reports net profit of ₹58.5 crore versus loss YoY

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India Cements Q1 results: Cement maker reports net profit of ₹58.5 crore versus loss YoY

Kamal Joshi

1 min read | Updated on August 09, 2024, 12:46 IST

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SUMMARY

India Cements' revenue from operations declined 28.5% to ₹1,026.7 crore in the latest June quarter as against ₹1,436.7 crore in the corresponding period last fiscal.

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India Cements Ltd is the largest producer of cement in South India

India Cements reported a consolidated revenue of ₹58.5 crore in the first quarter of financial year 2024-25 on Friday, August 9. The cement maker had reported a net loss of ₹87.4 crore in the year-ago period.

Revenue from operations declined 28.5% to ₹1,026.7 crore in the latest June quarter as against ₹1,436.7 crore in the corresponding period last fiscal.

The company posted a EBIDA (Earnings before interest, taxes, depreciation and amortisation) loss of 24.6 crore in the quarter under review. The EBITDA stood at ₹8.3 crore a year back.

Following the earnings, the stock was trading flat at ₹367.9 apiece, down 0.04%, on the NSE.

Last month, leading cement manufacturer UltraTech acquired an additional 32.72% stake in India Cements Ltd from the company promoters for ₹3,954 crore. This deal took UltraTech's stake in South-based company to over 55%.

India Cements has a total group capacity of 16 million tonne per annum (MTPA), including 1.5 MTPA from its subsidiary Trinetra Cement Limited.

While UltraTech has a consolidated capacity of 152.7 MTPA of grey cement. It has 24 integrated manufacturing plants, 33 grinding units, one clinkerisation unit and 8 bulk packaging terminals.

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About The Author

Kamal Joshi
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing tennis, especially flexing his backhand. He was previously associated with Republic TV and LatestLY.