India Cements reports loss in June 2023 quarter

The India Cements Ltd has reported revenue from operations of INR13,930.4m (US$168.3m) in the quarter ended 30 June 2023, down from INR14,462.3m in the same quarter a year earlier. The company saw a loss of INR752.7m in the June 2023 quarter, versus a profit of INR760.9m in the same quarter a year earlier.

Total expenses in the June 2023 quarter came in at INR14,988.2m, compared to INR15,262.8m in the same quarter in the previous year. The biggest decline in expenses was seen in power and fuel, which fell from INR6333.7m to INR5454.1m over the same timeframe.

Earnings per share fell from INR2.58 in the June 2022 quarter to -INR2.42 in the June 2023 quarter.