Sri Chakra Cement slides into loss

Sri Chakra Cement, based in the Indian state of Andhra Pradesh, has reported a net loss in INR-19.1m (US$297,038) in 3QFY17-18 ended 31 December 2017 when compared with INR81m in the previous quarter.

The company’s net revenue declined by 8.7 per cent to INR519.7m in the October-December quarter. In 3QFY16-17 net revenues reached INR568.9m.

Operating expenses during the 3QFy17-18 increased by 14 per cent to INR528.4m from INR463.7m YoY while other income more than tripled from INR0.8m in October-December 2016 to INR3.3m one year later.

Operating profits fell from INR105.2m to a loss of INR-8.7m between the 3Q16-17 and 3Q17-18.