India’s Sanghi Industries Ltd has posted revenue from operations of INR2298m (US$28.3m) in the quarter ended 30 September 2022, down from INR3391m in the previous quarter but up from INR2113m in the same period a year earlier. Profit over the same period has fallen from a gain of INR44.5m in the September 2021 quarter to a loss of INR328m in the quarter ended June 2022 and a further loss of INR443m in the quarter ended 30 September 2022. Basic earnings per share over the same timeframe dropped from INR0.18 to -INR1.31 to -INR1.77.

Over the half year ended 30 September 2022, revenue from operations came in at INR5690m, up from INR4932m in the year-ago period. Meanwhile, profit has declined from a gain of INR267m to a loss of INR771m over the same period.

Sanghi Industries is based in western India serving the markets of Gujarat, Rajasthan, Maharashtra, Madhya Pradesh and Kerala from its cement capacity of 6.1Mta and clinker capacity of 6.6Mta.