India Cements Q2 net profit dips 57% to Rs 30 crore, revenue up 13%

Despite the spike in fuel and petroleum product prices, India Cements turned out a decent show as volumes rose in the extended marketing zones

India Cements has posted a 57 per cent dip in net profit for the second quarter of the current financial year ended September 30, to Rs 30 crore from Rs 69 crore during the July to September quarter of 2020-21.

The company’s revenue from operations was up 13 per cent to Rs 1,235 crore during the period under review, from Rs 1,090 crore during the second quarter of the previous fiscal. During the period under review, power and fuel costs zoomed 57 per cent to Rs 359 crore. Total expenses during the period rose 23 per cent to Rs 1,202 crore from Rs 981 crore last fiscal. Though the quarter saw cost pressure due to the spike in fuel and petroleum product prices, India Cements turned out a decent show with an increase in volumes in the extended marketing zones, the firm said on Wednesday.

India Cements’ production during the quarter improved by 8 per cent and by 21 per cent to 4.12 million tonnes for the half year. Its extended marketing zones during this period helped improve dispatches with an overall sale of 2.36 million tonnes forthe quarter, against 2.l1 million tonnes during the previous year, up 12 per cent. The total volume for the half year was 4.31 million tonnes as against 3.54 million tonnes, up 22 per cent. The average net plant realisation for the quarter was down 4 per cent and for the half year by 5 per cent.