Mangalam Cement sees power and fuel costs jump 144% YoY

Mangalam Cement Ltd, part of the BK Birla Group, has posted total revenue of INR4083m (US$50.54m) in the quarter ended 30 September 2022. This compares to INR5181m in the previous quarter and INR3839m in the same period a year earlier, according to Dow Jones Newswires.

The company has reported a loss of INR271m in the September 2022 quarter, versus a profit of INR280m in the June 2022 quarter and a profit of INR110 in the September quarter in the previous year. Basic earnings per share advanced from INR4.03 in the quarter ended 30 September 2021 to INR10.22 in the quarter ended 30 June 2022, before declining to -INR0.9 in the following quarter.

While most expenses in the September 2022 quarter have come in on a par with the same quarter in the year-ago period, power and fuel costs have risen from INR735m to INR1795m, a YoY jump of 144 per cent.

In the half year ended 30 September 2022, the company reported total revenue of INR9265m, up from the INR7464m seen in the same period a year earlier. Net profit over the same timeframe, however, fell from INR461m to INR9.8m. Basic earnings per share dropped from INR16.78 to INR0.36. Power and fuel costs have advanced from INR1748m to INR3256m.