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News The India Cements shares first quarter results

The India Cements shares first quarter results

Written by Global Cement staff 28 July 2020
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India: The India Cements recorded a profit of US$2.27m in the three months to 30 June 2020, down by 77% year-on-year from US$9.66m in the corresponding quarter of 2019. Its sales fell by 48% to US$102m from US$197m, due to the effects of the coronavirus lockdown during the quarter. It noted that direct cement sales to consumers (non-trade sales) rose to 67% from 52%, and said that it would extend its successful “cash and carry” business model developed for non-trade sales during the partial coronavirus lockdown to all cement sales. The India Cements predicts a rise in cement demand in Andhra Pradesh and Telangana of 75% to 3.5Mt in the second half of 2020 from 2.0Mt in the first half.

Last modified on 29 July 2020
Published in Global Cement News
Tagged under
  • India
  • India Cements
  • Results
  • coronavirus
  • lockdown
  • Government
  • Andhra Pradesh
  • Telangana
  • GCW466
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