India Cements Q1 results: Net profit slips 77% to Rs 16.96 crore

NEW DELHI: India Cements on Monday posted 76.51 per cent year-on-year (YoY) fall in standalone net profit at Rs 16.96 crore for the quarter ended June 30. It had reported a net profit of Rs 72.43 crore in the corresponding quarter last year.

Revenue of the company declined 48.46 per cent YoY to Rs 757.03 crore during the quarter under review against Rs 1,468.80 crore in the same period last year.

Total expenditure also witnessed a fall of 46.27 per cent YoY to Rs 734.26 crore in Q1FY21.

In a regulatory filing, India Cements said that the Covid-19 pandemic situation has affected the normal business operations of the company and productions, sales and profitability.

Shares of the cement firm traded 0.76 per cent higher at Rs 119.05 after the announcement of June quarter’s earnings. On the other hand, the benchmark, BSE Sensex traded 0.55 per cent down at 37,917.