India Cements declines after Q2 PAT falls 57% YoY

India Cements slumped 5.4% to Rs 210.90 after the company's consolidated net profit declined 57% to Rs 29.75 crore in Q2 FY22 from Rs 69.21 crore posted in Q2 FY21.

Revenue from operations rose by 13.2% to Rs 1,234.85 crore in Q2 FY22 from Rs 1,089.96 crore posted in Q2 FY21. Consolidated profit before tax stood sharply lower at Rs 39.8 crore in Q2 FY22, registering a 64.9% decline from Rs 113.7 crore recorded in Q2 FY21.

The company's profitability was impacted after total expenses jumped 22.5% to Rs 1,201.6 crore in Q2 FY22 from Rs 980 crore in Q2 FY21. Power and Fuel expenses witnessed a sharp rise of 56.5% year on year to Rs 359.33 crore in Q2 FY22. Transport and handling charges spiked by 28.8% to Rs 277.46 crore in Q2 FY22 over Q2 FY21.

 

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

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