Sanghi Cement reports a loss as power costs soar

Sanghi Cement has posted unaudited revenue of INR3391.4m (US$42.67m) in the quarter ended 30 June 2022, up from INR2819m in the same period a year earlier.

Compared to a profit of INR223.2m in the quarter ended 30 June 2021, in the same quarter this year the company has reported a loss of -INR328.7m. While finance costs over the period have jumped from INR206.9m to INR445.2m, power and fuel costs have soared from INR921.2m to INR1928.6m. Selling expenses have also risen, as have depreciation and amortisation expenses.

Earnings per share have declined from a gain of INR0.89 in the quarter ended 30 June 2021, to a loss of -INR1.31 in the corresponding period this year.