India Cements slips after dismal Q4 outcome

Shares of India Cements lost 3.81% to Rs 163 after the company reported a consolidated net loss of Rs 10.58 crore in Q4 FY22 as against a net profit of Rs 50.19 crore in Q4 FY21.

Revenue from operations fell 3.72% to Rs 1,417.62 crore in Q4 FY22 from Rs 1,472.45 crore posted in Q4 FY21. The company reported a pre-tax loss of Rs 34.48 crore in Q4 FY22 as compared to a profit before tax of Rs 71.88 crore in Q4 FY21.

Total expenses were up by 2.5% year on year to Rs 1,459.28 crore in the quarter ended 31 March 2022. Cost of materials consumed increased 11.4% year on year to Rs 255.75 crore during the period under review. Power & fuel expenses surged 38.3% to Rs 522.97 crore in the quarter ended 31 March 2022 over quarter ended 31 March 2021.

On full year basis, the cement manufacturer reported a 62% decline in net profit to Rs 78.46 crore despite of a 7.71% rise in net sales to Rs 4,858.35 crore in FY22 over FY21.

The cement company's board recommended a dividend of Re 1 per equity share for the financial year ended 31 March 2022.

India Cements is primarily engaged in manufacture and marketing of cement and cement related products.

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