On a consolidated basis, the net loss of India Cements reported Rs 113.26 crore in the second quarter of FY23 compared to a net profit of Rs 29.75 crore posted in the second quarter of FY22.

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Operations revenue hit a high of 7.47 per cent to Rs 1,327.06 crore in Q2FY23 from Rs 1,234.85 crore in Q2FY22. The company reported a pre-tax loss of Rs 190.31 crore in the second quarter of FY23 compared to a profit before tax of Rs 39.83 crore in Q2FY22. Total expenses spurt 27.16 per cent YoY to Rs 1528.01 crore in the second quarter of FY23. The cost of materials consumed was at Rs 238.39 crore, up 15.85 per cent, while power and fuel stood at Rs 608.46 crore, up 69.33 per cent in the same quarter.

The company is engaged in the marketing and manufacturing of cement and cement-related products. The India Cements shares were up 1.95 per cent to Rs 250.80 on the Bombay Stock Exchange (BSE).