India Cement's stock plunges ~5% over lousy Q3FY22 numbers

11 Feb 2022 , 02:57 PM

India Cement Ltd.’s financial performance for the quarter and nine months ended December 2021 remained dull as its PAT narrowed due to lower revenue and increased expenses. It was trading in the lower circuit today following the results announcement.

At around 2.45 PM, India Cement was trading at Rs210.90, down by Rs12.05 or 5.40% against its previous closing price of Rs222.95.

The company reported consolidated revenue of Rs1,160.63 crore for Q3FY22 as against Rs1,184.68 crore for Q3FY21, marginally down by 2.03% yoy. Its consolidated revenue for the 9M period ended December 2021 was reported at Rs3,440.73 crore as against Rs3,038.10 crore for the previous 9M period, registering a growth of 13.36% over the year.

The company’s PBT stood at Rs14.85 crore for December 2021 quarter, as against Rs96.19 crore for the previous corresponding quarter, down by 84.57% yoy.

While its PAT narrowed by 76.08% yoy at Rs16.24 crore for Q3FY22 as against Rs67.90 crore for the same quarter last year. Company’s PAT for the 9M period ended December 2021 stood at Rs89.04 crore as against Rs156.58 crore for the corresponding 9M period, reflecting a decline of 43.13% year-on-year.

Its PBT for the 9 months ended December 2021 stood at Rs119.95 crore as against Rs238.78 crore for the corresponding 9 month period.