Sagar Cements has posted a net loss of ₹49 crore in the second quarter of the current financial year ended September 30, 2022.
In the corresponding quarter of the previous fiscal, it earned a net profit of ₹20 crore.
The total revenue of the Hyderabad-based company, however, increased 32 per cent at ₹489 crore as against ₹371 crore in the year-ago period.
“Our performance for the quarter was expectedly benign given the seasonality and challenging external environment. While volumes and realisations were relatively stable, profitability and margins were impacted by higher input costs,’’ Sreekanth Reddy, Joint Managing Director, Sagar Cements, said in a release.
“Demand, for a large part of the quarter, was impacted by strong monsoons. However we did witness some revival towards the end, following a pick-up in infrastructure activities as the rains subsided,” he added.
“Going ahead, our diversified geographic presence, cost rationalisation measures, better product mix and strong balance sheet positions us well to deliver consistent performance and create value for our shareholders,’’ Reddy said in a release.