Kakatiya Cement returns to black in 2QFY23-24

India-based Kakatiya Cement Sugar & Industries reported a standalone net profit of INR18m in the 2QFY23-24 when compared to a net loss of INR49.9m in the year-ago period.

Operating income increased by 107.3 per cent to INR5.3m in the 2QFY23-24 from an operating loss of INR72.8m. Operating expenses during the 2Q fell by 9.2 per cent YoY to INR372m from INR409.7m in the previous year’s equivalent period.

Net revenue increased by 12 per cent to INR377.3m when compared with INR336.9m in the 2QFY22-23.

The company operates a 0.297Mta cement plant supplied with limestone from Srinivas Nagar, Nalagonda district, Andhra Pradesh, and coal from the Singareni Coal Mines.