India Cements reports standalone 3qtr net at Rs 62.02 cr

India Cements Ltd clocked standalone net profits at Rs 62.02 crore for the quarter ending December 31, 2020, the company said on Wednesday.

The city-based noted industrialist N Srinivasan-led company had registered Rs 5.37 crore as net loss during the corresponding quarter previous year.

For the nine-month period ending December 31, 2020standalone net profits surged to Rs 150.41 crore as against 75.56 crores registered a year ago.

For the year ending March 31, 2020, the company had clocked a standalone net loss at Rs 35.51 crore.

Total income on a standalone basis stood at Rs 1,162.91crore for the quarter under review as against Rs 1,194.42crore recorded corresponding quarter last fiscal.

For the nine-month period ending December 31,2020standalone total income slipped to Rs 2,998.68 crore from 3,915.36 crores registered in the same period last year.

For the year ending March 31, 2020, standalone total income was at Rs 5,085.28 crore.

The COVID-19 pandemic situation has affected the normal operations of the company and production, sales and profitability have been impacted, the company said.