India Cements Q3 Profit: Rs 116.52 cr | Sales of Investments Boost

New Delhi, Jan 21 (PTI) India Cements Ltd on Tuesday reported a consolidated net profit of Rs 116.52 crore in the third quarter ended on December 31, 2024, boosted by the sale of investments.

The company had posted a consolidated net loss of Rs 6.58 crore in the same period last fiscal, said India Cements Ltd in which Aditya Birla Group firm UltraTech had acquired 32.72 per cent stake on December 24, 2024.

Consolidated revenue from operations stood at Rs 940.81 crore in the third quarter as compared to Rs 1,113.06 crore in the year-ago period, the company said in a regulatory filing.

India Cements said it recorded profit from sale of investments amounting to Rs 584.23 crore in the third quarter.

Total expenses in the quarter were higher at Rs 1,259.53 crore as compared to Rs 1,182.70 crore in the same period last fiscal.

During the quarter the company achieved a cement capacity utilisation of 57 per cent during the quarter.

Domestic sales volume grew 5 per cent. On the outlook, the company said India Cements is poised to grow stronger with an increase in its sales, optimisation of costs and efficient operations.

"With the increasing government spending on infrastructure and the improvement in demand in housing markets, the company is well-positioned to strengthen its presence in its core markets and contribute to the overall growth aspirations of the country," it said.