Sagar Cements sees 23% decline in revenue

India’s Sagar Cements has reported a 23.3 per cent YoY decrease in revenue from operations to INR2.64bn (US$35.19m) in the first quarter of FY20-21, compared with INR3.44bn in the corresponding period of the last fiscal.

Lower sales volumes following the country’s lockdown was regarded as one of the main reasons for the falling results. "The exodus of labour from construction sites also impacted the demand sentiments. With limited visibility on demand side, we focused our attention towards lowering our costs, which helped us soften the overall impact," said the company.

Operating EBITDA advanced 11 per cent to INR870m from INR790m, on the back of better realisations and cost management.