Andhra Cements reports income of INR1m in March 2023 quarter

India’s Andhra Cements Ltd (part of Sagar Cements Ltd) has reported total income of INR1m (US$12,192) in the quarter ended 31 March 2023, compared to INR1.8m in the same period a year earlier. Total expenses have come in at -INR843.6m giving a profit before exceptional items and tax of INR844.6m for the three-month period. Finance costs over the quarter stood at -INR1096.4m, versus INR446m in the quarter ended 31 March 2022. Net profit for the 2023 quarter is reported at INR11,220.1m, up from -INR683.1m in the same quarter a year earlier. 

For the year ended 31 March 2023, total income stood at INR4.8m, down from INR6.1m in the previous year, with net profit in the 2023 year standing at INR9496.2m, compared to a loss of INR2363m in the same period a year earlier. 

Andhra Cements Ltd used to run the 1Mta integrated Durga plant and the 0.6Mta Visaka grinding unit, but both facilities are now closed.