Mumbai, July 19 (SocialNews.XYZ) India Cements Limited, a subsidiary of UltraTech cement, on Saturday slipped into losses in the first quarter of the financial year (Q1 FY26), reporting a net consolidated loss of Rs 132.90 crore.
The Aditya Birla Group-owned cement company had posted a net consolidated profit of Rs 58.47 crore in the corresponding quarter a year ago (Q1 FY25). In the last quarter (Q1 FY25), the company's profit stood at Rs 14.68 crore, as per its exchange filing.
Meanwhile, its revenue from operation remained flat at Rs 1,024.74 crore (year-on-year) from Rs 1,026.76 crore in the same period a year earlier. However, the revenue declined 14 per cent sequentially from Rs 1,197.30 crore in the preceding quarter.
The company's expenses for the quarter under review stood at Rs 1,042.19 crore, falling slightly as compared to Rs 1,190.24 crore in Q1 FY25, according to the filing.
However, the expenses were higher than the total revenue (revenue from operation + other income) of Rs 1,033.85 crore, dragging cement manufacturing firm in the losses.
Profit after tax (PAT) before one-time exceptional items was a negative Rs 9.13 crore compared to negative Rs 182.21 crore over the same period last year, according to the filing.
UltraTech acquired the promoter's stake in the south India-based cement maker.
It later became a subsidiary of UltraTech Cement, with effect from December 24, 2024.
"The Company is planning a capital expenditure programme over the next 2 years for improving efficiency and reducing operating costs; increasing share of renewable power and improving safety standards," it said in the filing.
On the future outlook, the cement manufacturer said that India Cements is poised to grow stronger.
In last quarter, India Cements reported a 3.11 per cent annual fall in its revenue to Rs 1,197.3 crore.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz