Reports Rs 36-cr loss in year ended March 31, 2020, against net profit of Rs 69 cr in previous year
India Cements has reported a net loss of ₹111 crore for the quarter ended March 31, 2020, compared with a net profit ₹44 crore in the year-ago quarter, on account of the impact of Covid-19 on March cement sales.
Exceptional items for the year and quarter ended March 31, 2020, included an impairment provision of ₹100.04 crore relating to receivables from certain subsidiaries.
Loss before exceptional items and tax stood at ₹71 crore, compared with a profit of ₹62 crore in the year-ago quarter.
With the impact on sales during March, revenues dropped to ₹1,152 crore, compared with ₹,1564 crore in Q4 of 2018-19.
For the year ended March 31, 2020, the company’s net loss was ₹36 crore, as against a net profit of ₹69 crore in the previous fiscal.
Revenue from operations stood at ₹5,058 crore as against ₹5,628 crore.
The Board has recommended a dividend of ₹0.60 per share for the year ended March 31, 2020.
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Published on
June 24, 2020
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