Orient Cement Q3 Profit Down 77.5% - Lower Sales Impact

New Delhi, Jan 24 (PTI) Orient Cement Ltd on Friday reported a 77.5 per cent decline in consolidated net profit at Rs 10.14 crore in the third quarter ended December 31, 2024, impacted by lower sales.

The company had posted a net profit of Rs 44.99 crore in the same quarter last fiscal, Orient Cement said in a regulatory filing.

Consolidated revenue from operations in the quarter under review was at Rs 643.35 crore as against Rs 751.31 crore in the year-ago period, it added.

Total expenses in the third quarter stood at Rs 629.3 crore as against Rs 681.44 crore in the same period a year ago, the company said.

Orient Cement said it is awaiting regulatory and statutory approvals for the 46.8 per cent stake acquisition in it by Ambuja Cements Ltd announced in October 2024 and subsequent open offer.

Adani group firm Ambuja Cements had agreed to acquire a 46.8 per cent stake in the C K Birla family-owned Orient Cement for an equity value of Rs 8,100 crore.