Continued to be dogged by forex losses because of the rupee’s depreciation, India Cements slipped to a second quarter loss. The company posted a loss of Rs 22.5 crore against a profit of Rs 49.08 crore in the year ago quarter.
Net sales fell 3 per cent to Rs 1,085.93 crore in the quarter. Analysts had expected a loss of Rs 13.45 crore on net sales of Rs 1,142.50 crore, say media reports. The average net plant realisation per tonne of cement sold fell 12 per cent to Rs 3,090 a tonne.