India Cements slides after Q2 net loss widens to Rs 339 cr

India Cements slipped 1.05% to Rs 356.45 after the company reported consolidated net loss of Rs 339.13 crore in Q2 FY25 as against a net loss of Rs 85.54 crore reported in Q2 FY24.

Revenue from operations declined 18.39% YoY to Rs 1,031.80 crore in the quarter ended 30 September 2024.

The company reported a pre-tax loss of Rs 132.23 crore in Q2 FY25 as compared to a pre-tax loss of Rs 102.95 crore recorded in the same period a year ago. The firm reported exceptional items of Rs 223.24 crore during the quarter.

The companys total expenses slipped 3.80% YoY to Rs 1,322.98 crore in Q2 FY25. Employee benefits expense stood at Rs 96.13 crore (down 3.99% YoY) while Finance costs stood at Rs 73.33 crore (up 21.42% YoY) during the period under review.

On half-year basis, the company reported net loss of Rs 267.82 crore in H1 FY25 as against Rs 159.12 crore recorded in H1 FY24. Revenue from operations dropped 23.78% YoY to Rs 2,058.56 crore posted in H1 FY25.

India Cements business of the company is of manufacturing and sale of cement and cement related products.

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