India Cements Q1 net profit falters to Rs 17 cr

Chennai: India Cements on Monday reported standalone net profit at Rs 16.96 crore for the quarter ended June as compared to Rs 72.43 crore in the corresponding quarter of last year.

Revenue from operations came down to Rs 757 crore in Q1 FY21 as against Rs 1,469 crore in Q1 FY20. Total expenditure also fell to Rs 734 crore from Rs 1,367 crore in the same period.

The company said that spread of novel coronavirus disease (COVID-19) severely impacted businesses in India and abroad.

“The regular business operations have been disrupted severely due to lockdowns, restrictions in transportation, supply chain disruptions, travel bans, social distancing and other emergency measures,” it said in regulatory filings at stock exchanges.

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The pandemic situation affected normal business operations, production, sales and profitability, it added.

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