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.
