India Cements on January 21 said its net loss widened multi-fold to Rs 429 crore in the December quarter as against Rs 16.5 crore in the year-ago period.
The company's revenue declined 17% to Rs 903 crore in Q3FY25 as against Rs 1,082 crore in Q3FY24.
The company reported an exceptional loss of Rs 190 crore in the quarter ended December 31, 2024.
On January 21, India Cements' shares on NSE closed 8% lower at Rs 348 apiece.
Last month, the Competition Commission of India (CCI) cleared over Rs 7,000-crore deal, wherein billionaire Kumar Mangalam Birla-promoted UltraTech Cement will acquire a majority stake in India Cements Ltd.
On July 28, 2024, UltraTech Cement had announced the acquisition of a 32.72 per cent stake in India Cements Ltd (ICL) from promoters and their associates in a Rs 3,954-crore deal, which will expand its footprint in the highly competitive and fast-growing southern cement market.
Besides, Ultratech has also announced a Rs 3,142.35 crore open offer to acquire 26 per cent share of ICL from its shareholders.
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