Orient Cement reports INR137m loss in 3QFY18-19

Orient Cement has reported its financial results for the third quarter of the FY18-19, ended 31 December 2018.

Total income rose by 11.9 per cent to INR5.748bn (US$80.7m) in the 3QFY18-19 when compared with INR5.135bn in the year-ago period. When compared with INR5.632bn in the 2QFY17-18, sales rose 2.1 per cent.

The India-based cement producer reported a smaller net loss of INR137m in the 3QFY18-19 than in the 2QFY18-19 when the net loss reached INR167.4m. However, YoY losses dropped by 22.5 per cent from INR176.7m in 3QFY17-18.

For the first nine months of FY18-19 total income increased by 4.3 per cent to INR17.812bn from INR17.079bn in 9MFY17-18. Net profit fell by 146 per cent from INR314m to a loss of INR144.3m.