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.

(With inputs from agencies.)