Cement News tagged under: Orient Cement

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Orient Cement Ltd reports loss as costs escalate

10 November 2022, Published under Cement News

Orient Cement Ltd has posted revenue from operations of INR6152m (US$75.5m) in the quarter ended 30 September 2022. This is down from INR7139m in the previous year but up from the INR6161m posted in the same period a year earlier. Meanwhile, the company reported a net profit of INR568m in the quarter ended 30 September 2021, which fell to INR374m in the quarter ended 30 June 2022, and finally a loss of INR94.9m in the three months up to 30 September 2022. Basic earnings per share have c...

Indian cement's fuel strategy alters

19 August 2022, Published under Cement News

While the Ukraine-Russian war rages on, the impact on fuel prices can clearly be seen across the globe. Indian cement manufacturers are having to reconsider their strategies for energy consumption and fuel sourcing. Changes in imports have already started to see Indian cement producers seek higher volumes of petcoke imports and cheaper trade routes for thermal coal. Much of the petcoke that Indian cement manufacturers have imported recently has come from Venezuela for the first time, accord...

Indian producers turn to Venezuela for petcoke supplies

17 August 2022, Published under Cement News

The surge in global coal prices has prompted Indian cement producers to turn to petcoke instead with the country importing significant volumes from Venezuela for the first time. According to Live Mint, trade data shows that India imported at least four shipments of 160,000t of petcoke from Venezuela, arriving in India between April-June 2022. A further 50,000t cargo is due to reach Mangalore, India, over the coming days and a 30,000t shipment is expected to depart Venezuela for India later t...

Orient Cement profit hit by fuel costs

01 August 2022, Published under Cement News

Orient Cement has recorded unaudited revenue from operations of INR7139.3m (US$90.1m) in the quarter ended 30 June 2022. This compares to INR6909m in the same period a year earlier. Total expenses over the same period, however, advanced from INR5558.7m to INR6560.5m, mainly driven by soaring power and fuel costs which advanced from INR1320.8m to INR2286.8m. As a result, net profit for the quarter ended 30 June 2022 came in at INR3741.7m, down from the INR8945.8m seen in the same peri...

Orient Cement sees 3Q profit fall by 19% YoY

01 February 2022, Published under Cement News

CK Birla-owned Orient Cement reported an 18.9 per cent decline in net profit to INR436.7m (US$5.84m) for the third quarter, ended 31 December 2021. In the equivalent quarter of 2020, the company had posted a net profit of INR538.8m, said the company in a filing to the Bombay Stock Exchange (BSE). Orient Cement’s revenue in the 3QFY21-22 edged up 2.1 per cent to INR6.175bn, compared with INR6.046bn in 3QFY20-21. Total expenses increased by 4.6 per cent to INR5.526bn in the 3QFY21-22 fro...

Orient Cement sees start-up of new solar plant

30 December 2021, Published under Cement News

India-based Orient Cement will receive 50 per cent of its annual energy needs at its Maharashtra cement plant thanks to the start-up of a new solar plant. The 13.5MW solar power project was commissioned by Amp Energy India, who operates an open-access facility in Gurgaon village, Osmanabad district. Orient Cement has signed a power purchase agreement with Amp Energy India for the purchase of solar power for 25 years. The cement producer is expected to significantly reduce its energy bills ...

Orient Cement records 28% YoY revenue increase

27 October 2021, Published under Cement News

India’s Orient Cement has recorded a consolidated revenue of INR6.13bn (US$81.63m) in the 2QFY21-22, up 28.4 per cent YoY from INR4.78bn in the comparable period of the previous fiscal. Net profit also climbed 63.4 per cent YoY to INR568.8m from INR348.2m.

Orient Cement's INR21bn project cleared to begin

12 April 2021, Published under Cement News

India’s environment ministry has reportedly cleared Orient Cement’s INR21bn (US$280.27m) expansion plan for its Telangana plant, according to the India National Press.  In 2017 the company announced its plans to expand its Devapur plant in Telangana and Chittapur unit in Karnataka for an estimated capital expenditure of INR36bn. However, the plans were stalled and were with the environment ministry for the last two years as an expert panel sought several clarifications.

Birla Corp posts 52% rise in net profit

26 May 2020, Published under Cement News

India’s Birla Corp has posted a 52 per cent YoY surge in net profit to INR1.95bn (US$25.76m) in the quarter ending 31 March 2020, while total income was down 9.4 per cent to INR17.18bn. Capacity utilisation during the 4QFY19-20 declined to 93 per cent from 98 per cent, on the back of a 13 per cent YoY drop in sales volumes to 3.3Mt. In the FY19-20 net profit advanced 98 per cent YoY to INR5.05bn. Orient Cement Birla Corp subsidiary, Orient Cement, recorded a 29 per cent YoY decline in...

Orient Cement reports modest decline in income

31 January 2020, Published under Cement News

India’s Orient Cement has reported a 1.3 per cent YoY decline in total income to INR5.67bn (US$79.3m) during the 3QFY19-20. However, the company considerably narrowed its net loss to INR56.7m from INR137m. In the nine months to December 2019, total income remained flat YoY at INR17.78bn from INR17.81bn. Meanwhile, it posted a net profit of INR425.2m against a INR144.3m loss during the year-ago period. Elsewhere, the company has also approved the resignation of its CFO, Sushil Gupta, wit...