India Cements Q2 PAT declined 10 per cent QoQ

India Cements reported weak results for the quarter ended September 30, 2017 on Thursday.

Total sales for Q2FY18, came in at Rs. 1,268.3 crore. This represents a 13.2 per cent sequential decline and 3 per cent YoY decline.

Operating profit (EBIT) for the recently concluded quarter amounted to Rs. 118.2 crore and the EBIT margin stood at 9.3 per cent.

It reported PAT of Rs. 23.7 crore which represents a sequential QoQ decline of 10.5 per cent and a YoY decline of 62 per cent.

India Cements is one of the leading cement manufacturing companies in India and also a market leader in South India. The company has a total installed capacity of 15.7 million tonnes per annum.

On Thursday, the stock opened at Rs. 177.60 per share and touched an intra-day high and low of Rs. 181.50 and Rs. 171.10, respectively, on the BSE.