India Cements reports Rs 21.97 crore as standalone profit

CHENNAI: The India Cements Ltd on Wednesday said the cement-maker reported standalone profit for the quarter ending September 30, 2021 at Rs 21.97 crore. The city-based company registered a standalone profit at Rs 71.43 crore during the corresponding quarter last year.

For the six-month period ending September 30, 2021, the standalone net stood at Rs 59.39 crore against Rs 88.39 crore in the corresponding quarter last year. The standalone total income for the quarter under review grew to Rs 1,193.35 crore from Rs 1,075.45 crore registered a year ago.

For the half-year ending September 30, 2021, the standalone total income rose to Rs 2,218.89 crore from Rs 1,835.77 crore registered in the corresponding period last year. In a statement, the company said the COVID-19 outbreak has severely impacted businesses within the country and abroad.

The regular business operations have been disrupted during the quarter and the half-year due to lockdowns, restrictions in transport and supply chain disruptions and other emergency measures imposed by the government.

The company said that the pandemic affected the normal business operations, production, sales and profitability. “The quarter (under review) also witnessed cost pressure through increase in price of fuel and ever-increasing prices of petroleum products. However, the company could turn out a reasonable performance through an increase in volume in the extended marketing zones”, the company said.

The cement production during the quarter improved by 8 per cent and for the half-year ending September 30, 2021, it was up by 21 per cent at 41.22 tonne against 34.07-lakh tonne. The extended marketing zones during this period helped improve dispatches with an overall sale of 23.60 lakh tonnes for the quarter ending September 30, 2021, against 21.07 lakh tonnes last year.