ICICI Securities has come out with its first quarter (April-June) earnings estimates for the cement sector. The brokerage house expects ICEM to report a degrowth of 41.9 percent quarter-on-quarter (degrowth of 41.5 percent year-on-year) in net profit at Rs 29.7 crore.
Net Sales are expected to decrease by 4.4 percent Q-o-Q (up 2.3 percent Y-o-Y) to Rs 1096.2 crore, according to ICICI Securities.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 12.3 percent Q-o-Q (down 4.8 percent Y-o-Y) to Rs 185.5 crore.
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