The firm had posted a net loss of ₹243.77 crore in the identical quarter a 12 months in the past, India Cements Ltd mentioned in a regulatory submitting. Representational file picture.
India Cements Ltd on May 20 reported a narrowing of consolidated net loss to ₹50.06 crore in the fourth quarter ended March 31, 2024, helped by improved gross sales quantity.
The firm had posted a net loss of ₹243.77 crore in the identical quarter a 12 months in the past, India Cements Ltd mentioned in a regulatory submitting.
Consolidated income from operations in the quarter beneath evaluate was at ₹1,266.65 crore as in opposition to ₹1,485.73 crore in the corresponding interval a 12 months in the past.
“With the improved sales volume, India Cements Ltd could turn out a better operating performance and pared the losses for the fourth quarter under review,” the corporate mentioned.
The cement and clinker quantity for the fourth quarter was 24.36 lakh tonne as in contrast to 27.85 lakh tonne in the identical interval of the earlier 12 months, it added.
Together with the revenue arising from the sale of land, the corporate has made a money revenue of ₹24 crore for the quarter regardless of the setback attributable to the autumn in promoting costs of cement, the corporate mentioned.
India Cements additional mentioned after muted capability utilisation in the earlier two quarters attributable to the harassed working capital circumstances, the identical may very well be improved in the fourth quarter due to infusion of working capital and it was 63 per cent from 51 per cent in the third quarter of the present 12 months.
Total bills in the fourth quarter had been decrease at ₹1,351.84 crore as in contrast to ₹1,637.65 crore in the corresponding interval earlier fiscal.
For the fiscal ended March 31, 2024, the consolidated net loss was at ₹215.76 crore. It was at ₹169.82 crore in the earlier fiscal, the corporate mentioned.
In FY24 consolidated income from operations was at ₹5,112.24 crore, down from ₹5,608.14 crore in FY23.
On the outlook, the corporate mentioned after Lok Sabha elections and meeting elections in some states, the centre and states are anticipated to retain their deal with the event agenda. The building exercise is anticipated to be brisk in the approaching months pushed by continued infrastructure spending by the federal government, non-public sector housing and business segments.
“This presents a healthy demand outlook for cement and the industry, especially in the South, has built adequate capacity to meet the firm demand,” India Cements mentioned.
At the identical time, it mentioned, “Increasing cost pressure, high cost of logistics and severe competition in the market are also hanging over the head which will affect the margins.”
