India Cements Q2 net contracts 69% to ₹22 cr.
The Hindu
‘Cost pressure as fuel, coal prices rise’
India Cements Ltd.’s standalone net profit for the second quarter ended September contracted 69% to ₹21.97 crore on the impact of the COVID second wave, lower net plant realisation rate, and higher input cost.
The second quarter results were to be seen in the backdrop of the COVID-led lockdown in the core markets of Karnataka, Kerala and Tamil Nadu, and the unprecedented rains and floods in some States, said vice chairman and managing director N. Srinivasan,
Asserting that the second quarter also witnessed cost pressure by way of increasing fuel and coal prices, he said that all these were expected to put pressure on the output and earnings margins in the coming months.
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