India Cements Posts ₹137.6 Million Loss In June Quarter On Lower Costs

India Cements Ltd. reported a net loss of ₹137.6 million for the April-June quarter, reversing from a net profit of ₹574.6 million in the same period last year.

Revenue from operations rose 5.5% on year to ₹10.25 billion, although it was down more than 14% from the ₹11.95 billion reported in the January-March quarter.

The company’s net loss in the previous quarter stood at ₹756.7 million. Other income during the June quarter rose to ₹88 million from ₹63.7 million a year ago.

Total expenditure, including finance costs, fell to ₹10.50 billion from ₹11.40 billion a year earlier. Finance cost alone dropped over 60% on year to ₹329.3 million.

India Cements reported a tax write-back of ₹24.8 million for the quarter, compared with a tax expense of ₹208.3 million a year ago.