India Cements Ltd suffers net loss of Rs 10.4 cr for Q4FY20

New Delhi: India Cements Ltd suffered consolidated net loss of Rs 10.4 crore for the fourth quarter of the fiscal 2019-20 as compared net profit of Rs 25.8 crore in the corresponding quarter of the previous fiscal.

The company’s consolidated revenue from operations fell 26 percent to Rs 1,176 crore for the fourth quarter of the fiscal 2019-20 as compared to Rs 1,603 crore in the same quarter of the previous fiscal. .

The company’s consolidated net profit jumped two and a half times to Rs 50 crore for the entire fiscal 2019-20 as compared to Rs 19.1 crore in the previous fiscal. 

The company’s revenue from operations fell 10 percent to Rs 5,186 crore for the entire fiscal 2019-20 as compared to Rs 5,770 crore for the previous fiscal.

The consolidated total expenses of the company fell to Rs 1,253 crore in the fourth quarter of the 2019-20 fiscal as compared to Rs 1,575 crore in the corresponding quarter of the previous fiscal. The total expenses of the company jumped to Rs 5,190 crore in the 2019-20 fiscal as compared to Rs 5,759 crore in the previous fiscal, the company said in a regulatory filing.

 As a result of the lockdown imposed by the governments, the operations of the company were stalled in the last week of March 2020. The operations re-started in phases in April 2020 but the corona pandemic “has affected the normal business operations of the company and production, sales and profitability, inter alia, have been impacted”.

The company recommended a dividend of 60 paisa per equity share for the fiscal 2019-20.

 

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