India Cements posts Rs 31 cr net loss in Jan-Mar quarter

Written by PTI | New Delhi | Updated: May 26 2014, 20:42pm hrs
India CementsIndia Cements net sales also declined to Rs 5,085 crore, from Rs 5,159 crore. (Reuters)
New Delhi, May 26 (PTI) N Srinivasan-led India Cements Ltd today reported Rs 30.56 crore standalone net loss for the January-March quarter on lower income and higher finance costs.

India Cements, which has 15.5 million tonne per annum capacity, had reported Rs 26.28 crore net profit in the same quarter of last fiscal (2012-13).

Its net sales fell to Rs 1,080 crore, from Rs 1,191 crore a year earlier, the company said in a statement, adding that the expenses also dipped by Rs 17 crore to Rs 1,077 crore.

Finance costs, on the other hand, rose to Rs 77.77 crore from Rs 63.88 crore a year earlier.

For the entire financial year 2013-14, India Cements' net loss stood at Rs 117 crore, from Rs 188 crore net profit in the previous fiscal.

Net sales also declined to Rs 5,085 crore, from Rs 5,159 crore.