The India Cements Ltd posts loss as expenses rise

The India Cements Ltd has posted standalone total income of INR14,788.9m (US$178.7m) in the quarter ended 31 March 2023, compared to INR13,967.2m in the same period a year earlier. The company has reported a loss of -INR2177.9m over the March 2023 quarter, versus a loss of -INR237.1m in the March 2022 quarter.

Total expenses over the same period advanced from INR14,331.9m to INR16,073.1m, with power and fuel expenses expanding from INR5142.9m to INR6156.9m. Earnings per share fell from INR5.40 in the quarter ended 31 March 2022, to a loss of -INR7.08 in the same period a year later. 

For the year ended 31 March 2023, total income stood at INR54,150.8m, compared to INR47,298.3m in the year ended 31 March 2022. Total expenses over the same period increased from INR46,758m to INR60,024.4m, resulting in a loss of -INR1885.5m in the year ended 31 March 2023, versus a profit of INR389.8m in the same period a year earlier. Earnings per share declined from INR7.46 to a loss of -INR6.07 over the same time frame.