India Cements posts third-quarter net loss

India Cements posts third-quarter net loss
12 February 2015

India Cements Ltd posted a net loss for third quarter, compared with a profit a year ago, dragged down by muted cement sales in the south.

The Chennai-based firm posted a net loss of INR116.8m, compared with a net profit of INR4.2m a year ago.

The company registered flat revenue growth at INR10.359bn crore for the three months to December as against INR10.365bn crore a year ago.

CSK transfer
Meanwhile, the board of India Cements yesterday approved a proposal to transfer the ownership of the cricket franchise to Chennai Super Kings Cricket Ltd, a wholly owned subsidiary. “India Cement will just be a cement company”, said N Srinivasan executive chairman and managing director of the company said. The move led India Cements' shares to surge by as much as 13.84 per cent


Published under Cement News

Tagged Under: Results India India Cements