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News The India Cements raises sales in 2023 financial year

The India Cements raises sales in 2023 financial year

Written by Global Cement staff 25 May 2023
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India: The India Cements recorded full-year consolidated sales of US$678m during the 2023 financial year, up by 15% year-on-year from 2022 financial year levels. The Economic Times newspaper has reported that the company increased its cement sales volumes by 9%, in line with overall volumes growth in the cement industry in India. It reported a net loss of US$205m, compared with a US$7.97m net profit in the previous financial year.

The India Cements said "The performance of the company during the year under review was adversely impacted by the record increase in the cost of fuel and power, which could not be compensated in the market due to supply overhang."

Last modified on 31 May 2023
Published in Global Cement News
Tagged under
  • India
  • India Cements
  • Results
  • costs
  • fossil fuels
  • Electricity
  • volumes
  • Loss
  • oversupply
  • market
  • GCW610
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