India Cements on Wednesday reported a consolidated net profit of Rs 43.05 crore for April-June quarter, more than double of Rs 19.47 crore profit posted in the year-ago quarter. While revenue from operations rose 37 per cent year-on-year to Rs 1,045.25 crore during the quarter, total expenses grew 32 per cent to Rs 983.11 crore. "This performance has been achieved despite the onslaught of second wave of COVID-19 pandemic during this quarter which impacted the overall volume and in the face of severe cost pressure through increase in fuel price and continuous increase in the price of petroleum products," the cement maker said in a release. As the second wave of pandemic impacted the main markets of the company in Maharashtra, Kerala, Karnataka and Tamil Nadu, the economic recovery that was witnessed towards the end of the previous financial year, was impacted during the first quarter of this current fiscal, it said. The company's cement production improved during the quarter by nearly 40 per cent and the overall sales including clinker was up by 37 per cent as compared to previous year, India Cements said.
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