Consolidated September quarter profit of Rs 8.81 crore; standalone loss narrows
INDIACEM · price
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On the reaction day the stock moved 0.3 pts less than Nifty Smallcap 250 and 0.2 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Standalone Q2 revenue rose about 11 percent year on year to Rs 1,117.15 crore, but the loss was Rs 6.86 crore. Consolidated profit was Rs 8.81 crore versus a Rs 339.13 crore loss last year, helped by a Rs 6.01 crore one-off credit. Half-year consolidated loss was Rs 124.08 crore; one-off credits totalled Rs 129.78 crore. Consolidated half-year operating cash flow was negative at Rs 194.61 crore. Auditors continue to flag two legal cases.
Q2 profit may lift sentiment, but negative cash flow, one-off credits and pending legal cases cast doubt on a lasting recovery.