India Cement Ltd. reported a net loss in the first quarter of FY24.
The cement manufacturer's net loss stood at Rs 73.6 crore in the June quarter, compared to a net profit of Rs 83.8 crore in the year-ago period, according to an exchange filing.
India Cement Q1 FY24 Highlights (Consolidated, YoY)
Revenue down 5.1% at Rs 1,436.7 crore.
Net loss of Rs 73.6 crore versus a profit of Rs 83.8 crore.
Ebitda down 79.2% at Rs 8.3 crore.
Ebitda margin at 0.58% versus 2.63%.
Shares of India Cement were trading 4.14% lower at Rs 215.45 apiece, after the results were announced, compared to a 0.21% gain in the NSE Nifty 50 at 12:27 p.m.
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