India Cements Q4 net loss at Rs 11.76 crore

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India Cements Ltd on Wednesday reported a consolidated net loss of Rs 11.76 crore for the fourth quarter ended March 31, 2020.

The company had posted a net profit of Rs 32.57 crore during the January-March quarter of 2018-19 financial year, India Cements said in a regulatory filing.

Its revenue from operations was down 26.62 percent to Rs 1,176.40 crore during the quarter under review, as against Rs 1,603.36 crore in the year-ago period.

India Cements total expenses were at Rs 1,253.09 crore in the fourth quarter, down 20.48 percent as against Rs 1,575.82 crore.

However, for the fiscal year 2019-20, the net profit was up two folds to Rs 53.46 crore. It was Rs 25.26 crore in the previous year.

Its revenue from operations in fiscal year 2019-20 was Rs 5,186.45 crore, down 10.11 percent. It was Rs 5,770.37 crore in 2018-19.

Meanwhile, in a separate filing India Cements said its board in a meeting held on Wednesday has recommended a dividend of Re 0.60 per share for the year ended March 31, 2020.

Shares of India Cements on Wednesday were trading at Rs 128.00 on BSE, down 2.81 percent from the previous close.