Cement News tagged under: indian subcontinent
Sanghi Industries sees profit decline YoY in the September 2022 quarter16 November 2022, Published under Cement NewsIndia’s Sanghi Industries Ltd has posted revenue from operations of INR2298m (US$28.3m) in the quarter ended 30 September 2022, down from INR3391m in the previous quarter but up from INR2113m in the same period a year earlier. Profit over the same period has fallen from a gain of INR44.5m in the September 2021 quarter to a loss of INR328m in the quarter ended June 2022 and a further loss of INR443m in the quarter ended 30 September 2022. Basic earnings per share over the same timeframe dro... |
Grasim Industries announces 2% fall in net profit16 November 2022, Published under Cement NewsGrasim Industries, which has a 57 per cent stake in UltraTech Cement Ltd , has reported standalone net profit of INR9643m (US$118.8m) in the quarter ended 30 September 2022, down 1.5 per cent YoY. Revenue from operations over the same period advanced almost 37 per cent to INR67,450m, while EBITDA expanded 19.4 per cent to INR9566m. Margins, however, contracted by 206 basis points to 14.18 per cent, according to The Economic Times, driven by a sharp hike in input costs and other expenses... |
Tokyo Cement posts 34% rise in revenue16 November 2022, Published under Cement NewsSri Lanka-based Tokyo Cement saw turnover advance 34 per cent YoY to LKR30,317m (US$82.5m) in the six months ended 30 September 2022. However the group reported an exchange loss of LKR3674m over the same period, giving a total exchange loss of LKR8733m over the calendar year so far, putting significant pressure on the group’s cashflows. Throughout the six-month period the group deployed aggressive cost management policies and efficiency improvements that proactively reduced operational ... |
Burnpur Cement reports further losses14 November 2022, Published under Cement NewsIndia-based Burnpur Cement Ltd has reported total revenue of INR330.3m (US$4.09m) in the quarter ended 30 September 2022. This compares to INR312.9m in the previous quarter and INR337.4m in the quarter ended 30 September 2021. A loss from continuing operations of INR202.5m was seen in the September 2022 quarter, versus a loss of INR179.2 in the previous quarter and a loss of INR183.9m in the comparable quarter a year earlier, reports Dow Jones Newswires. The loss is being attributed to fi... |
Deccan Cements sees profits fall 72%14 November 2022, Published under Cement NewsDeccan Cements Ltd has seen its total revenue decline from INR1927.3m (US$23.8m) in the quarter ended 30 September 2021 to INR1822m in the same period this year. Over the same timeframe, the company has seen its profits tumble from INR233.3m to INR65.6m, a drop of 71.9 per cent YoY. Profit in the quarter ended 30 June 2022, stood at INR206.7m. Basic earnings per share have declined from INR16.66 in the September 2021 quarter, to INR14.76 in the quarter ended 30 June 2022, to INR4.69 in the... |
Mangalam Cement sees power and fuel costs jump 144% YoY11 November 2022, Published under Cement NewsMangalam Cement Ltd , part of the BK Birla Group , has posted total revenue of INR4083m (US$50.54m) in the quarter ended 30 September 2022. This compares to INR5181m in the previous quarter and INR3839m in the same period a year earlier, according to Dow Jones Newswires. The company has reported a loss of INR271m in the September 2022 quarter, versus a profit of INR280m in the June 2022 quarter and a profit of INR110 in the September quarter in the previous year. Basic earnings per shar... |
Prism Johnson reports 274% drop in profit11 November 2022, Published under Cement NewsIndia’s Prism Johnson has reported consolidated net sales of INR16,663m (US$203.7m) in the September 2022 quarter, up 10.19 per cent from INR15,095m in the same period a year earlier. Over the same timeframe, the company posted a consolidated net loss of INR662m, down 274 per cent from the profit of INR380m in the same quarter in 2021. EBITDA came in at INR392m in the September 2022 quarter, marking a decline of 75.5 per cent YoY from INR1604m. The company has also announced that it pl... |
Birla Corporation announces new MD and CEO11 November 2022, Published under Cement NewsBirla Corp Ltd (BCL) has announced the resignation of its managing director and chief executive officer, Shri Arvind Pathak. Mr Pathak, who is leaving the company for personal reasons, will remain in his current position until 31 December 2022. With effect from 1 January 2023, Shri Sandip Ghose will take over the role of managing director and chief executive officer for a period of three years. Mr Ghose has over 39 years’ of experience having worked for both large multinational corporat... |
Birla Corporation profits hit by production costs in 2QFY22-2310 November 2022, Published under Cement NewsEven with a double-digit increase in cement sales by volume, Birla Corp Ltd ’s September 2022 quarter (2QFY22-23) profitability was hit by a sharp increase in power and fuel costs. The seasonally weak monsoon quarter meant the company was unable to pass these costs onto the customer, resulting in EBITDA in the quarter falling 51.6 per cent YoY to INR1360m (US$16.7m). Profitability was also impaired by the costs related to the newly commissioned 3.9Mta integrated plant in Mukutban run b... |
Orient Cement Ltd reports loss as costs escalate10 November 2022, Published under Cement NewsOrient 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... |