Cement News tagged under: indian subcontinent
Grasim Industries sees profit tumble QoQ15 February 2023, Published under Cement NewsGrasim Industries Ltd, which owns UltraTech Cement , has reported unaudited standalone total income from continuing operations of INR62,983.1m (US$760.4m) in the quarter ended 31 December 2022. This compares to INR75,007.5m in the previous quarter and INR58,252.9m in the same period a year earlier. Net profit advanced from INR5224.7m in the quarter ended 31 December 2021 to INR9643m in the quarter ended 30 September 2022, before falling to INR2573.6m in the latest quarter ended 31 Decemb... |
HeidelbergCement India sees profit slump in December 2022 quarter15 February 2023, Published under Cement NewsHeidelbergCement India has reported total income of INR5506.7m (US$66.6m) in the quarter ended 31 December 2022, up from INR5170.6m in the previous quarter but down slightly on the INR5568.1m seen in the same quarter in 2021. Over the nine months ended 31 December 2022, total income came in at INR16,678.8m, down from INR17,135.9m in the same period a year earlier. Net profit in the quarter ended 31 December 2022 stood at INR55.8m, compared to INR70.1m in the previous quarter, and signi... |
Shree Cement resignation14 February 2023, Published under Cement NewsIndia’s Shree Cement has announced that Prakash Narayan Chhangani has resigned as whole-time director of the company. His resignation is effective from 13 February 2023. According to the company, his decision to leave is to “pursue his career outside the organisation.” |
Power and fuel costs hit profits at Ramco Cements09 February 2023, Published under Cement NewsRamco Cements Ltd has reported revenue of INR20,180.9m (US$244.3m) in the quarter ended 31 December 2022. This compares to INR17,932m in the previous quarter and INR15,558.8m in the same quarter a year earlier. Net profit after tax fell from INR825.7m in the December 2021 quarter, to INR673.9m in the same period a year later, while basic earnings per share declined from INR3.49 to INR2.85. Over the nine months ended 31 December 2022, revenue came in at INR55,906.8m, up from INR42,915.8... |
Ambuja Cements reports 11% QoQ revenue rise08 February 2023, Published under Cement NewsAmbuja Cements Ltd , part of the Adani Group , has reported an 11 per cent QoQ increase in revenue in the quarter ended 31 December 2022. Net revenue for the three-month period came in at INR80,360m (US$ 972.95m), compared to INR72,450m in the previous quarter, and INR77,100m in the same period a year earlier. EBITDA in the December 2022 quarter stood at INR11,380m, up from INR4360m in the previous quarter but down from INR12,130m in the same period in 2021. The EBITDA margin in the De... |
The India Cements Ltd sees revenue slip MoM07 February 2023, Published under Cement NewsThe India Cements Ltd has reported revenue from operations of INR12,194m (US$147.3m) in the quarter ended 31 December 2022. This compares to INR12,546m in the previous quarter and INR11,084m in the quarter ended 31 December 2021. In the October-December 2022 quarter, the company saw a profit of INR907.3m, compared to a loss of INR1375m in the previous quarter and a profit of INR33m in the same quarter a year earlier. Power and fuel expenses jumped from INR3518m in the December 2021 quar... |
Star Cement reports 27% rise in 3Q net profit06 February 2023, Published under Cement NewsIndia-based Star Cement saw its net profit increase by 27 per cent YoY to INR303m (US$3.67m) for the quarter ended 31 December 2022 (3QFY22-23). Net revenue advanced by 15.4 per cent to INR6234.9m in the October-December 2022 quarter when compared with INR5400.9m in the year-ago quarter. Operating expenses in 3Q22 were up by 10.8 per cent to INR5582.8m from INR5040.5m in the 3Q21. Operating profit surged by 81 per cent to INR652.2m in the 3Q22 when compared with INR360.3m reported in ... |
Adani Group shares tumble amidst fraud claims31 January 2023, Published under Cement NewsGautam Adani, owner of the Adani Group , saw his fortune fall by US$20bn on Friday last week after investors withdrew from his companies amidst fraud claims made by a US investment firm. Hindenburg Research published a report accusing the Adani Group of decades of stock manipulation and accounting fraud, according to the BBC. The report was released ahead of a planned share sale for Adani Enterprises, but the news resulted in shares in the company falling by almost 20 per cent. Some of t... |
Sagar Cements sees profits tumble in 202224 January 2023, Published under Cement NewsIndia'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, unaudi... |
Sagar Cements wins bid to acquire Andhra Cements18 January 2023, Published under Cement NewsSagar Cements Ltd has been named as the successful bidder to acquire Andhra Cements Ltd. The Committee of Creditors at Andhra Cements voted with a majority in favour of the resolution plan filed by Sagar Cements Ltd, said Andhra Cements in a regulatory filing. Andhra Cements operates two cement plants – the 1Mta Durga Cement Works in Dachepalli and the 0.6Mta Visaka Cement Works in Vishakapatnam – both of which are currently closed. This deal will not only boost Sagar Cement’s cement pr... |