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News Shiva posts loss in first fiscal quarter

Shiva posts loss in first fiscal quarter

Written by Global Cement staff 26 August 2020
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India: Shiva Cement has reported a standalone net loss of US$365m for the first quarter of the current fiscal year (1 April 2020 – 30 June 2020). However, the loss was 33% lower than the US$556m that it lost in the corresponding quarter of the 2019-2020 fiscal year. Shiva’s net revenue also declined substantially, by 22.6%, to US$1.11bn during the quarter, compared to US$1.43bn a year earlier. The company’s operating profit slipped to a loss of US$273m, as against a profit of just US$12,000 a year ago.

Last modified on 26 August 2020
Published in Global Cement News
Tagged under
  • GCW470
  • India
  • Shiva Cement
  • Results
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