Orient Cement sees revenue improve

India-based Orient Cement Ltd has reported unaudited revenue from operations of INR7322.9m (US$89.6m) in the quarter ended 31 December 2022. This compares to INR6152.8m in the previous quarter and INR6175.3m in the same period a year earlier.

Net profit for the quarter ended 31 December 2022 stood at INR275.2m, versus a loss of INR94.9m in the previous quarter and a profit of INR436.7m in the same period in 2021. Power and fuel costs advanced from INR1399.1m in the quarter ended 31 December 2021 to INR2273.9m in the same period a year later. 

In the nine months ended 31 December 2022, unaudited revenue from operations was reported at INR20,615.1m, up from INR19,215.5m in the same quarter in 2021. Net profit after tax over the 2022 nine-month period stood at INR554.4m, versus INR1900.1m in the same quarter a year earlier. Power and fuel expenses over the same timeframe jumped from INR4060.7m to INR6497.5m.