Indian manufacturer Orient Cement Ltd (OCL), part of the CK Birla group, saw a 38.3 per cent drop in net profits to INR420.7m (US$4.88m) for the January-March 2025 quarter, according to a regulator filing.The company reported a net profit of INR681.9m (US$7.9m) in same period last year.
Revenue from operations fell 7.1 per cent to INR8.252bn in the January-March 2025 quarter from INR8.88bn in the corresponding period a year ago. OCL's total expenses were down 2.6 per cent to INR7.65bn.
Total income, including other income, fell seven per cent to INR8.328bn. For the entire FY24-25, OCL profits dropped 47.8 per cent to INR912.4m from INR1.75bn a year earlier. Its total income was down 14.7 per cent to INR27.29bn for the financial year, which ended on 31 March 2025, having been INR32.01bn in FY23-24.
In a separate filing, OCL said that its board in a meeting on Sunday recommended a final dividend of 50 per cent, which is INR0.50 per equity share of INR1 each for the year ended 31 March 2025.
On 22 October 2024, Adani Group firm Ambuja Cements entered into a share purchase agreement with the promoter group and certain other shareholders to acquire 46.80 per cent of the shareholding of the company. "The acquirer received the approval from the Competition Commission of India(CCI) on 4 March 2025," OCL said.
