India Cements net profit rises 244% YoY to Rs 72 cr in Q1, revenue 8%

India Cements' EBIDTA increased by more than 50% when compared with the same quarter of the previous year

India Cements reported a profit of Rs 72.21 crore for the quarter ended June 30, 2019 (Q1FY20), as against Rs 21.03 crore during the same quarter last year, an increase of around 244 per cent.

Revenue for the quarter under review rose to Rs 1,468.80 crore up by 8 per cent from Rs 1,360.65 crore reported in the corresponding period of the last year.

The company reported significant  improvement  in its operating performance for Q1FY20 on the back of improved selling price and sustained efforts of cost reduction. The EBIDTA of the company increased by more than 50% when compared with the same corresponding quarter of the previous year. Net plant realisation went up by 11 per cent during the quarter under review, said N Srinivasan, vice chairman, India Cements.

The company's EBIDTA stood at Rs 245 crore during the quarter ended June 30, 2019, as compared to Rs 162 crore in the same quarter of the previous year.

The company's variable cost fell by nearly four per cent on a sequential basis and was only marginally up when compared to the corresponding quarter of the previous year.  This was also aided by the softening of fuel prices at beginning of the year, Srinivasan added.