India Cements clocks Rs 58.47 crore profit in April-June; revenue declines 28.5%
Business new tamfitronics NEW DELHI: India Cements Ltd on Friday reported a consolidated net profit of Rs 58.47 crore in June 2024 quarter even though its sales volume declined 26 per cent as capacity utilisation was severely hit due to continuous liquidity crunch. The Chennai-based company sold its grinding unit at Parli, Maharashtra in April and included the gain of Rs 240.68 crore from the sold unit as an exceptional item in the quarterly profit. Before the exceptional items and tax, India Cements Ltd (ICL) had a loss of Rs 147.97 crore in the quarter under review. The company, in which the promoters are selling their stake to rival Aditya Birla group firm UltraTech Cement, had reported a net loss of 87.40 crore during the April-June quarter a year...
