India Cements net profit falls 62% in 2Q17

India Cements have reported a net profit of INR236.7m (US$3.5m) for the 2Q17 ended 30 September, reflecting a 62 per cent YoY drop, according to the New Indian Express.

The company also saw a decrease in total revenue to INR12.7bn from INR13.1bn of the corresponding period in the previous financial year. EBITDA decreased to INR1.88bn for the same period. The volume of cement sold during 2Q17 amounted to 2.7Mt, including exports.

The “second quarter proved more tough than we thought previously due to difficult trading conditions,” said N Srinivasan, managing director and vice-chairman of India Cements.