Keerthi Industries reports revenue fall

India-based Keerthi Industries Ltd, formerly Suvarna Cements Ltd, has reported unaudited revenue of INR571.67m (US$7.2m) in the quarter ended 30 June 2022, compared to INR714.18m in the same period a year earlier.

Although total expenses over that period have fallen from INR622.71m to INR554.25m, power and fuel costs expanded from INR230.08m to INR290.74m, and cost of materials jumped from INR79.91m to INR86.82m. Profit for the quarter ended 30 June 2022 came in at INR18.12m, considerably down on the INR76.61m posted in the same quarter in 2021, but up from the INR10.83m loss seen in the quarter ended 31 March 2022.

Earnings per share declined from INR9.56 in the quarter ended 30 June 2021 to INR2.26 in the same quarter this year.