Cement News tagged under: indian subcontinent
Birla Corp records 15% YoY revenue growth08 February 2024, Published under Cement NewsBirla Corp has reported revenue of INR23,120m (US$278.6m) in the 3QFY23-24. This compares to INR20,161m in the same quarter a year earlier, marking a 14.7 per cent YoY advance. Consolidated net profit in the 3QFY23-24 came in at INR1091.4m, versus a net loss of INR499.1m in the 3QFY22-23, according to BusinessLine Online. The company saw cement sales of 4.2Mt in the 3QFY23-24, up 13.2 per cent YoY, along with a capacity utilisation rate of 85 per cent over the three-month period. This... |
India's CMA welcomes Interim Budget 2024-2507 February 2024, Published under Cement NewsIndia’s cement producers have applauded the country’s government for its sustained focus on infrastructure development in its latest Interim Budget 2024-25. Under the budget plan, investment in infrastructure will increase by 11.1 per cent YoY in 2024-25, equivalent to 3.4 per cent of GDP. Three major economic railway corridor programmes, namely the energy, mineral and cement corridor, as well as the port connectivity corridor and high traffic density corridor, are to be implemented t... |
Orient Cement sees net profit jump 64% YoY06 February 2024, Published under Cement NewsIndia's Orient Cement , part of the CK Birla Group , has reported revenue from operations of INR7513m (US$90.45m) in the quarter ended 31 December 2023 (3QFY23-24). This marks a 2.6 per cent increase on the INR7322.9m seen in the same period a year earlier. Over the same timeframe, consolidated net profit advanced to INR449.9m, up 63.5 per cent from the INR275.1m recorded in the 3QFY22-23. Total expenses, meanwhile, declined one per cent to INR6814.4m over the same period. Total income... |
Nuvoco Vistas EBITDA up 55% in 3QFY2402 February 2024, Published under Cement NewsIndia-based Nuvoco Vistas Corp Ltd has reported consolidated revenue of INR24,210m (US$291.8m) in the 3QFY23-24, ended 31 December 2023. Consolidated EBITDA over the same period came in at INR4210m, up 55 per cent YoY, while the consolidated cement sales volume for the quarter stood at 4.02Mt. The company has recently commissioned a 1.2Mta mill at its Haryana cement plant, taking the producer’s overall cement capacity to 25Mta. This latest expansion will boost the company’s productio... |
Udaipur Cement Works reports strong income02 February 2024, Published under Cement NewsUdaipur Cement Works Ltd has reported total income of INR3003.3m (US$36.17m) in the quarter ended 31 December 2023. This compares to INR2695.2m in the previous quarter and INR2385.1m in the quarter ended 31 December 2022. In the nine months ended 31 December 2023, total income came in at INR8163.2m, up from the INR7374.2m seen in the same period a year earlier. Profit after tax in the December 2023 quarter stood at INR252.6m, up significantly from the INR121.5m seen in the previous qu... |
Nuvoco sees 55% increase in 3Q EBITDA01 February 2024, Published under Cement NewsNuvoco Vistas Corp saw consolidated cement sales volume fall by 10 per cent YoY to 4Mt in the 3QFY23-24 (October-December 2023). The company also reported a seven per cent drop in revenue to INR24.21bn (US$291.6m). However, EBITDA expanded by 55 per cent YoY in the 3QFY23-24 to INR4.21bn, supported by improved price realisations and a decline in power and fuel costs. EBITDA/t of INR1048 was the highest in the last 10 quarters, according to a company presentation. Raw material costs for... |
Shree Cements reports jump in profit01 February 2024, Published under Cement NewsShree Cement has reported total income of INR53,706.5m (US$646.85m) in the quarter ended 31 December 2023. This compares to INR49,321.1m in the previous quarter and INR44,733.8m in the quarter ended 31 December 2022. In the nine months ended 31 December 2023, total income came in at INR155,366.6m, up from the INR130,655m seen in the same period a year earlier. Profit after tax in the December 2023 quarter stood at INR7018.5m, up notably from the INR4466.2m of the previous quarter and ... |
Ambuja Cements reports jump in profits YoY31 January 2024, Published under Cement NewsAmbuja Cements Ltd has reported total income of INR45,477.3m (US$547.7m) in the three months ended 31 December 2023, up from INR42,043.7m in the same period a year earlier. Profit after tax came in at INR5136.8m in the December 2023 quarter, versus INR3689.9m in the comparable period in 2022. Total expenses over the same period expanded from INR36,793.2m to INR38,673m, while basic earnings per share increased from INR1.86 in the quarter ended 31 December 2022 to INR2.59 in the same peri... |
Kohat Cement welcomes new company secretary29 January 2024, Published under Cement NewsNadeem Atta Sheikh, chief executive at Kohat Cement , informed the Pakistan Stock Exchange Ltd (PSX) on the 26 January that Muhammad Ahsan Yousaf has ceased to be the company secretary of Kohat Cement with immediate effect. Ms Iqra Khalid has been appointed the new company secretary. |
ACC reports 375% surge in PAT26 January 2024, Published under Cement NewsIndia’s ACC Ltd has reported a 139 per cent YoY leap in operating EBITDA to INR9050m (US$108.87m) in the 3QFY23-24. Profit after tax over the same period has advanced by 375 per cent to INR5380m. According to the company, the “robust” results are due to “a sharp growth in volume and improvement of important KPIs.” Revenue for the 3QFY23-24 stood at INR49,140m, up from INR45,370m in the same period a year earlier, while earnings per share improved from INR6.01 in the 3QFY22-23 to INR28.55 i... |