India Cements loss widens to Rs 3.39 billion, revenue drops 18.4%
Cement

India Cements loss widens to Rs 3.39 billion, revenue drops 18.4%

India Cements (ICL) reported a consolidated net loss of Rs 3.39 billion for the second quarter ending September 2024. The company had incurred a loss of Rs 800.07 million in the same period the previous year. In the filing, the company also noted that rival Aditya Birla group firm UltraTech Cement had announced plans to acquire a majority stake in India Cements.

ICL’s revenue from operations decreased by 18.4 per cent, falling to Rs 10.31 billion compared to Rs 12.64 billion in the corresponding quarter of the previous financial year. Total expenses for the company amounted to Rs 13.22 billion, a decrease of 3.8 per cent. Total income, which includes other income, dropped by 6.41 per cent, reaching Rs 11.90 billion in the September quarter.

The company reported an earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss of Rs 1.63 billion, contrasting with a positive EBITDA of Rs 70.7 million in the same quarter the previous year. Additionally, UltraTech Cement had acquired a 22.77 per cent stake in India Cements in June 2024 at a price of Rs 268 per share.

India Cements (ICL) reported a consolidated net loss of Rs 3.39 billion for the second quarter ending September 2024. The company had incurred a loss of Rs 800.07 million in the same period the previous year. In the filing, the company also noted that rival Aditya Birla group firm UltraTech Cement had announced plans to acquire a majority stake in India Cements. ICL’s revenue from operations decreased by 18.4 per cent, falling to Rs 10.31 billion compared to Rs 12.64 billion in the corresponding quarter of the previous financial year. Total expenses for the company amounted to Rs 13.22 billion, a decrease of 3.8 per cent. Total income, which includes other income, dropped by 6.41 per cent, reaching Rs 11.90 billion in the September quarter. The company reported an earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss of Rs 1.63 billion, contrasting with a positive EBITDA of Rs 70.7 million in the same quarter the previous year. Additionally, UltraTech Cement had acquired a 22.77 per cent stake in India Cements in June 2024 at a price of Rs 268 per share.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code