The KCP Ltd sees profits slide as expenses climb

India-based cement producer, The KCP Limited, has announced standalone total income of INR4840m (US$58.5m) in the quarter ended 31 March 2023, up from INR4638.2m in the same period a year earlier. Total expenses over the same time frame have increased from INR4189.2m to INR4605.5m, driven primarily by power and fuel costs, resulting in a profit of INR147.5m in the March 2023 quarter, down from INR271.6m in the quarter ended 31 March 2022. Earnings per share have declined from INR2.11 in the March 2022 quarter to INR1.14 in the same quarter a year later. 

Looking at the company’s cement business alone, revenue in the quarter ended 31 March 2023 came in at INR3965.4m , slightly up from the INR3906.4m posted in the same period a year earlier. However, over the same time frame, the profit of INR261.1m posted in the quarter ended 31 March 2022 became a loss of INR54.4m in the quarter ended 31 March 2023. Along with its cement business, the company is also involved in heavy engineering, sugar, power and hospitality.