Orient Cement profit hit by fuel costs

Orient Cement has recorded unaudited revenue from operations of INR7139.3m (US$90.1m) in the quarter ended 30 June 2022. This compares to INR6909m in the same period a year earlier.

Total expenses over the same period, however, advanced from INR5558.7m to INR6560.5m, mainly driven by soaring power and fuel costs which advanced from INR1320.8m to INR2286.8m.

As a result, net profit for the quarter ended 30 June 2022 came in at INR3741.7m, down from the INR8945.8m seen in the same period a year earlier. Basic earnings per share over the same period fell from INR4.37 to INR1.83.