Binani Cement posts 3Q loss on higher costs
India’s Binani Cement Ltd Friday swung to a net loss for its fiscal third quarter, hurt by higher raw-material and energy costs.
For the quarter ended Dec. 31, the cement company posted a net loss of INR115.2m, compared with a net profit of INR571.7m in the year-earlier period.
Sales dropped marginally to INR3.98 billion from INR4.02bn.
Binani Cement’s power and fuel costs rose more than 15% to INR1.27bn, while its outward freight costs increased over 25% to INR1.04bn.
Published under Cement News
