India Cements clocks Rs 58.47 crore earnings in April-June; income decreases 28.5%

NEW DELHI: India Cements Ltd on Friday reported a combined net earnings of Rs 58.47 crore in June 2024 quarter despite the fact that its sales volume decreased 26 percent as capability utilisation was seriously struck due to constant liquidity crunch. The Chennai-based business offered its grinding system at Parli, Maharashtra in April and consisted of the gain of Rs 240.68 crore from the offered system as a remarkable product in the quarterly earnings. Before the remarkable products and tax, India Cements Ltd (ICL) had a loss of Rs 147.97 crore in the quarter under evaluation. The business, in which the promoters are offering their stake to competing Aditya Birla group company UltraTech Cement, had actually reported a bottom line of 87.40 crore throughout the April-June quarter a year earlier. Its income from operations was down 28.53 percent to Rs 1,026.76 crore throughout the duration under evaluation as versus Rs 1,436.74 crore in the matching quarter, according to a regulative filing from ICL. “The capability utilisation of the business was badly affected triggered by the constant liquidity crunch on account of losses sustained in the earlier quarters,” stated a profits declaration from the business. The N Srinivasan-led business might not make the most of the lowered fuel expense as running margins even more diminished on account of low volume. “The greater expense of production as compared to p
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