Illustration: Ajay Mohanty Chennai-based India Cements has recorded a net loss of Rs 74 crore for the first quarter of FY24, following a decrease in sales and revenue. The company registered a net profit of Rs 84 crore during the same quarter in FY23. Its revenue from operations for the quarter under review… Continue reading India Cements posts net loss of Rs 74 crore in Q1 due to dip in sales
Tag: Cements
India Cements posts wider Q1 adjusted loss as raw material costs weigh
(Reuters) – India Cements reported a wider adjusted loss in the first quarter on Monday, hurt by irregular monsoon and high raw material costs. The company reported a loss before exceptional items and tax at 989.1 million rupees ($11.96 million), from 720.1 million rupees loss a year ago. Revenue from operations fell… Continue reading India Cements posts wider Q1 adjusted loss as raw material costs weigh
Ambuja Cements to acquire Sanghi Industries in Rs 5,000 crore deal
Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr Adani group-company Ambuja Cement to buy Sanghi Cement for Rs 6,000 cr Ambuja-ACC and JK Lakshmi Cement lead race for Sanghi Cement acquisition Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand Adani Green Energy to… Continue reading Ambuja Cements to acquire Sanghi Industries in Rs 5,000 crore deal
Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr
Ambuja Cements on Thursday announced that it would acquire Sanghi Industries Ltd (SIL) at an enterprise valuation of Rs 5,000 crore. The Adani Group company will acquire a 56.74 per cent stake in SIL from its existing promoter group, Ravi Sanghi & family. The acquisition will be fully funded through internal accruals. According… Continue reading Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr
Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand
Adani Group-owned Ambuja Cement, on Wednesday, reported a 31 per cent year-on-year (YoY) rise in consolidated net profit for the April-June quarter of financial year 2023-24 (Q1FY24). Profit after tax (PAT) for the quarter stood at Rs 1,135.46 crore as against Rs 865.44 crore profit seen in the corresponding quarter of the previous year… Continue reading Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand
Ambuja Cements to acquire majority stake in Sanghi Industries: Reports
India’s Ambuja Cements has reached a deal to acquire a majority stake in operations of Sanghi Industries, two sources with direct knowledge said, a transaction that will add heft to cement operations of billionaire Gautam Adani’s firm. The deal by Ambuja is likely to be announced as soon as Wednesday, the sources said,… Continue reading Ambuja Cements to acquire majority stake in Sanghi Industries: Reports
Orient Cement’s net profit declines to Rs 37.03 crore in June quarter
Orient Cement’s total expenses were at Rs 772.39 crore in Q1 of FY2023-24, up 17.73 per cent. C K Birla group firm Orient Cement Ltd on Tuesday reported a marginal decline in its net profit at Rs 37.03 crore in the June quarter. It had posted a net profit of Rs 37.41 crore… Continue reading Orient Cement’s net profit declines to Rs 37.03 crore in June quarter