India Cements Q1 Results: Reports Net Loss As Revenue Falls

The cement manufacturer's first-quarter net loss at Rs 73.6 crore, compared to a net profit of Rs 83.8 crore a year ago.

<div class="paragraphs"><p>(Source: freepik)</p></div>
(Source: freepik)

India Cement Ltd. reported a net loss in the first quarter of FY24.

The cement manufacturer's net loss stood at Rs 73.6 crore in the June quarter, compared to a net profit of Rs 83.8 crore in the year-ago period, according to an exchange filing.

India Cement Q1 FY24 Highlights (Consolidated, YoY)

  • Revenue down 5.1% at Rs 1,436.7 crore.

  • Net loss of Rs 73.6 crore versus a profit of Rs 83.8 crore.

  • Ebitda down 79.2% at Rs 8.3 crore.

  • Ebitda margin at 0.58% versus 2.63%.

Shares of India Cement were trading 4.14% lower at Rs 215.45 apiece, after the results were announced, compared to a 0.21% gain in the NSE Nifty 50 at 12:27 p.m.