Sagar Cements sees profits tumble in 2022

India's Sagar Cements Ltd (SCL) has reported unaudited consolidated revenue from operations of INR5757.3m (US$70.7m) in the quarter ended 31 December 2022, up from the INR3336m seen in the same period a year earlier. However, a net loss of INR271.9m was recorded over the three-month period, compared to a profit of INR97.8m in the comparable period in 2021. Over the same period, power and fuel expenses jumped from INR1330m to INR2095.1m. 

In the nine months ended 31 December 2022, unaudited consolidated revenue from operations stood at INR16,080m, marking an increase from the INR10,951m reported in the same period in 2021. A net loss of INR894.8m was recorded for the nine-month period in 2022, versus a profit of INR783m in the nine months ended 31 December 2021. Power and fuel expenses rose from INR3451.5m to INR6517.1m over the same period, while finance costs escalated from INR453.5m to INR1497.3m. 

SCL is one of India's leading cement manufacturer with an installed production capacity of 8.25Mta.