India Cements reports a widened net loss of Rs 339.13 crore in Q2 FY25, with revenue down 18.4%. UltraTech Cement is set to acquire a majority stake in the company.
Photograph: Jayanta Dey/Reuters
New Delhi, Nov 8 (PTI) The India Cements Ltd (ICL) on Friday reported widening of consolidated net loss to Rs 339.13 crore for the second quarter ended September 2024.
It had incurred a loss of Rs 80.07 crore in the July-September period a year ago, according to a BSE filing from ICL, in which rival Aditya Birla group firm UltraTech Cement has announced to acquire a majority stake.
Revenue from operations of ICL was down 18.4 per cent to Rs 1,031.80 crore as against Rs 1,264.39 crore in the corresponding quarter last fiscal.
Total expenses were at Rs 1,322.98 crore, down 3.8 per cent.
Total income, which includes other income, in the September quarter was down 6.41 per cent to Rs 1,190.75 crore.
Shares of ICL were trading at Rs 355.65 per scrip on BSE, down 1.28 per cent.
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