India Cements reports dismal Q2 earnings

7 Nov 2022 , 12:28 PM

Revenue from operations rose 7.47% to Rs 1,327.06 crore in quarter ended 30 September 2022 from Rs 1,234.85 crore recorded in the corresponding quarter previous year. The company reported a pre-tax loss of Rs 190.31 crore in Q2 FY23 as compared to profit before tax of Rs 39.83 crore posted in the same period a year ago. Total expenses spiked 27.16% year on year to Rs 1528.01 crore in Q2 FY23. Cost of materials consumed was at Rs 238.39 crore (up 15.85%) while power and fuel stood at Rs 608.46 crore (up 69.33%) during the quarter. India Cements is primarily engaged in manufacture and marketing of cement and cement related products. Shares of India Cements were up 1.95% to Rs 250.80 on the BSE. Powered by Capital Market – Live News