Saurashtra Cement sees revenue decline 13% YoY

India’s Saurashtra Cement Ltd has reported consolidated revenue from operations of INR1864m (US$22.5m) in the quarter ended 30 September 2022. This compares to INR2145m in the previous quarter and INR1775m in the same quarter a year earlier. In the six months ended 30 September 2022, revenue from operations came in at INR4010m, up from INR3425m in the same period a year ago.

In terms of profit, the quarter under review saw a net loss of INR225m, compared to a loss of INR10.2m in the previous quarter and a loss of INR71.6m in the same quarter in the year-ago period. For the six months ended 30 September 2022, a net loss of INR235.7m was seen, versus a profit of INR57.2m in the same period a year earlier.

Power and fuel costs advanced from INR498.6m in the September 2021 quarter to INR872.8m in the same period this year. Over the six months under review, power and fuel costs rose from INR1070m in 2021 to INR1900m a year later.

Saurashtra Cement, part of The Mehta Group, runs one integrated plant in Ranavav, Gujarat, India.