India Cements reports net loss of ₹428.80 Crore in Q3

21 Jan 2025 , 03:46 PM

India Cements announced its results for the quarter ended December 2024 on Tuesday, January 21. The company reported a higher net loss during the said quarter.

The Chennai-based cement manufacturer reported a net loss of ₹428.80 Crore in Q3FY25, a significant jump from a loss of ₹16.50 Crore in the same period previous year.

The company’s revenue for the quarter slipped by 17% to ₹903.20 Crore as compared to ₹1,082 Crore in Q3FY24.

The cement company reported an unusual loss of ₹190 Crore in Q3, contributing to the overall deficit. The sales reduction and unusual loss illustrate the company’s persistent struggles in a low-demand environment.

The cement maker’s loss before interest, depreciation, and tax for Q3FY25 stood at ₹143.73 Crore versus ₹78.15 Crore in the previous corresponding quarter. Profit after tax was ₹196.22 Crore against ₹0.67 Crore in the quarter ended December 2023.

The company reported that its net debt has declined sharply to ₹886 Crore for the quarter under review. On a positive note, the company also achieved a cement capacity utilisation of 57% during the period under review. Domestic sales volume also jumped 5% y-o-y on a consolidated basis.

In late 2024, the Competition Commission of India (CCI) approved a deal worth over ₹7,000 Crore for billionaire Kumar Mangalam Birla’s UltraTech Cement to purchase a majority share in India Cements.

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