BENGALURU: India Cements Ltd reported a wider fourth-quarter loss on Wednesday, as raw material and fuel costs surged. Loss before exceptional items and tax deepened to 1.28 billion rupees ($15.65 million), from a loss of 364.7 million rupees a year ago.
Total expenses jumped 12.2%, led by increase in materials used and fuel costs. For further results highlights, click: WHY IT MATTERS Analysts expected the domestic cement industry to grow 9%-10% year-on-year in the January-March quarter, benefiting from a sequential decline in raw material costs and increased infrastructure spending.
However, unseasonal rains led to softer demand in March, they added. India Cements‘ rivals Ambuja Cements and Ramco Cements Ltd reported a strong profit growth in March-quarter, aided by a boost in government infrastructure spending.ru)
