India Cements posts Q2 loss of Rs 113 cr on input cost spike, lower volumes

Revenue from operations up 7% YoY; firm had posted Rs 30 cr profit a year ago

Chennai-based India Cements has posted a consolidated net loss of Rs 113 crore for the second quarter of the financial year 2022-23, compared to a net profit of Rs 30 crore during the same period last financial year.

However, the company’s revenue from operations was up 7 per cent to Rs 1,327 crore during the quarter under review, from Rs 1,235 crore a year ago. “The performance during the quarter was significantly impacted due to spiralling increase in the price of input materials resulting in higher cost which could not be compensated in the market due to huge supply overhang.