India Cements reports Q1 standalone net at Rs 76.09 crore

Cement manufacturer The India Cements Ltd has reported a standalone profit at Rs 76.09 crore for the April-June quarter, the company said on Friday.

The city-headquartered company had registered standalone net profit at Rs 37.42 crore in the corresponding quarter previous year.

For the year ending March 31, 2022, the standalone profit was at Rs 38.98 crore, the company said in a statement.

The standalone total income during the quarter under review grew to Rs 1,454.27 crore from Rs 1,025.54 crore registered in the same period year ago.

For the year ending March 31, 2022, the standalone total income stood at Rs 4,729.83 crore.

''The company has opted for rates of income tax as specified under Section 115BAA of the Income Tax Act, 1961. Consequent to which, the company's deferred tax liability obligation has been recomputed resulting in a reversal of Rs 148.10 crore,'' the company said.