India Cements doubles net profit in FY19-20

India Cements reported consolidated net profit of INR534.6m in FY19-20 when compared with INR252.6m in FY18-19. Total income rose from INR58.1bn in FY18-19 to INR52.231bn in FY19-20.

India Cement's net loss in the 4QFY19-20 reached INR117.6m when compared with a profit of INR325.7m in the 4QFY18-19.  The company incurred a one-time loss of INR1bn owing to coronavirus uncertainty in the quarter under review. Total income stood at INR11.98bn in 4QFY19-20 when compared with INR16.23bn in the year-ago period. 

"The spread of novel coronavirus disease has severely impacted businesses in India and abroad. The regular business operations have been disrupted severely due to lockdowns, restrictions in transportation, supply chain disruptions, travel bans, social distancing and other emergency measures. The pandemic situation has affected the normal business operations of the company and production, sales and profitability," India Cements said.