India Cements Ltd.
Q3FY23 Quarterly Result Announced for India Cements Ltd.
India Cements announced Q3FY23 results:
- Q3FY23 & 9MFY23:
- In 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.
- In the nine months, the overall volume was up by 11% at 71.08 lakh tons (64.13 lakh tons).
- This is compared to an approximate overall growth of 13% for the cement industry in the south during the same period.
- The cost per kcal of fuel increased from Rs 1.95 per kcal to Rs 2.95 per kcal during the quarter under review on a YoY basis.
- Consequently, there was a negative EBIDTA of Rs 66 crore for the quarter as compared to an EBIDTA of Rs 110 crore in the same period of the previous year.
- Interest charges were higher at Rs 61 crore (Rs 50 crore) while depreciation was at Rs 54 crore as that of the previous year.
- The loss before tax and extraordinary items stood at Rs 180 crore as compared to a profit of Rs 5 crore for the quarter.
- There was an exceptional income representing profit on the sale of investments at Madhya Pradesh of Rs 294 crore and the profit before tax was at Rs 114 crore after reckoning the same, as compared to a profit of Rs 5 crore before tax in the previous year.
- After-tax and other adjustments, the total comprehensive income for the quarter was at Rs 88 crore as compared to a profit of Rs 3 crore in the previous year.
- The above results were taken on record by the Board of directors at their meeting held on 3rd February 2023.