Q2FY19 Result: India Cements PAT declines by 94 per cent YoY
Indian Cements reported its results for the quarter ended September 30, 2018. The company's standalone revenue for the quarter Q2FY19 came in at Rs. 1,387.05 crore as against Rs. 1,268.26 crore in the corresponding quarter last year, registering 9.4 per cent YoY increase.
The EBITDA for the quarter fell by 14.7 per cent YoY to Rs. 154.77 crore as against Rs. 181.42 crore in the corresponding quarter last year, with a corresponding margin contraction of 315 bps. EBITDA margin for the quarter stood at 11.2 per cent. The PAT for the quarter came in at Rs. 1.43 crore as against Rs. 23.67 crore in the corresponding quarter last year, YoY decline of 94 per cent. The deterioration in the performance was due to fluctuation in currency and increase in power cost for the quarter, which was up by 592bps YoY as per cent of net sales.
India Cements is a cement producer and distributor with operations concentrated in the southern states of India (installed capacity 15.7MTPA).
On Friday’s trade, the stock of Indian Cements opened at Rs. 94.50 per share and touched a high/low of Rs. 99.20/92.65 per share and on 3:01 pm the stock was quoting at Rs. 96.25, up by 2.45 per cent in-spite of posting negative numbers.