India Cements reports net profit of ₹58.50 Crore in Q1FY25

9 Aug 2024 , 02:49 PM

India Cements Ltd. reported a net profit of ₹58.5 Crore in the first quarter ended June 2024, compared to a net loss of ₹87.4 Crore in the same quarter last year.

India Cements Ltd reported a 28.5% decrease in consolidated revenue from operations to ₹1,026.8 Crore in the current quarter, compared to ₹1,436.7 Crore in the same period last year, according to a regulatory filing.

The company reported an EBITDA loss of ₹24.6 Crore during the quarter. The cement manufacturing company reported an unusual credit of ₹240.7 Crore for the April-June period.

The company’s Annual General Meeting will be held in September, according to a separate exchange filing. During 2015, a statutory authority attached some corporate assets with an aggregate carrying value of ₹120.34 Crore.

The corporation has already filed an appeal against the attachment order, and the case is currently before the courts. According to India Cements, the auditors have continued to emphasise this issue in their report.

At around 2.27 PM, India Cements was trading 0.29% lower at ₹367.05, against the previous close of ₹368.10 on NSE. The counter touched an intraday high and low of ₹371.90, and ₹365, respectively.

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