India Cements Sees Profit Amid Investment Sales Surge

India Cements Ltd swung back to profitability with a consolidated net profit of Rs 116.52 crore in Q3 2024, driven by investment sales. The firm's revenue decreased to Rs 940.81 crore. Domestically, sales volumes grew by 5% and the company anticipates further growth with improved demand and infrastructure projects.

India Cements Ltd has reported a consolidated net profit of Rs 116.52 crore for the third quarter ending December 31, 2024, a significant turnaround attributed to profits from investment sales.

The company had recorded a consolidated net loss of Rs 6.58 crore during the same period last year, India Cements Ltd stated, while noting that UltraTech, an Aditya Birla Group firm, had acquired a 32.72 per cent stake on December 24, 2024.

For this quarter, net revenue from operations fell to Rs 940.81 crore from Rs 1,113.06 crore in the year-ago quarter, as per a regulatory filing. A profit of Rs 584.23 crore was achieved from the sale of investments, although total expenses rose to Rs 1,259.53 crore against Rs 1,182.70 crore last year. The company achieved a cement capacity utilisation of 57 per cent alongside a 5 per cent growth in domestic sales volume. India Cements is optimistic about strengthening its market presence, given the government's increasing infrastructure investments and improved housing market demand.