Net sales of cement industry increased 7 per cent on year-on-year (YoY) basis and 16 % on quarter on quarter in Q3FY21.
EBITDA increased by 39.5 percent on YoY basis in Q3 FY21. It was due to continuation of strong pricing and lower operating costs as witnessed during the first two quarters of FY21.
Despite the pandemic and one of the worst years for the Indian economy, the cement industry witnessed a positive growth in profitability in Q3FY21.
In Q3FY21, the industry witnessed volume growth of 5.6% YoY after 2 quarters of decline. Aggregate volume for the industry increased by 5.6% YoY to 71.6mn mt in Q3FY21.
Almost all cement companies reported growth in net profitability in the last quarter. The Budget's major focus on infrastructure development and recent surge in demand played a vital role in surge in profits. SHIVANI SHARMA, PRAGATI SRIVASTAVA