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Monday, February 26, 2024

India Cements reports 10% overall growth in 9 months

Date:

 India Cements today announced that it has

reported an overall growth of 10 per cent in the nine months of the

current fiscal.

The company’s Q3 results and that of the first nine months of the

year under review was taken on board record by Board of Directors

at their meeting held here today.

India Cements reported a profit after tax of Rs 90.73 crore for the

third quarter ending December 31,2022 compared to Rs 3.30 crore

in the same period of 2021-22.

Total income came to Rs 1223.40 crore ( Rs 1114.22 crore). The

net profit has been arrived after taking into account an exceptional

income from the sale of investments made in Madhya Pradesh for

setting up a new cement plant, a company release said.

During the quarter ending December 31, 2022, the loss before tax

and extra ordinary items stood at Rs.180 crores as compared to a

profit of Rs.5 crores for the quarter.

There was an exceptional income representing profit on sale of

investments at Madhya Pradesh of Rs.294 crores and the profit

before tax was at Rs.114 crores after reckoning the same, as

compared to a profit of Rs.5 crores before tax in the previous

year.

For the quarter under review, the overall volume of clinker and

cement for the company was at 21.82 lakh tons up by 3% as

compared to 21.08 lakh tons on YOY.

For the nine months, the overall volume was up by 11 per cent

at 71.08 lakh tons (64.13 lakh tons). This is compared to an

approximate overall growth of 13% for the cement industry in

south during the same period.

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