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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

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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.

About The Author

WhatsApp Image 2024-06-20 at 9.58.49 AM.jpeg
Kamal Joshi is a business journalist who covers industries, markets and IPOs. He is passionate about breaking news and enjoys playing tennis, where he loves flexing his backhand.

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