Sagar Cements Ltd posted Rs 4.68 crore loss during the first quarter of the present financial year ended June 30. In the corresponding quarter of the last financial year, the Hyderabad-based company earned Rs 4.12 crore profit.
The revenue declined by 18.2 per cent to Rs 123 crore from Rs 153 crore last year. “The first quarter of the new financial year has been challenging for cement companies in the south. Although cement prices have witnessed a significant improvement, an over supply situation still exists,’’ Sreekanth Reddy, Executive Director, said in an analyst presentation.
Approximately 49 per cent of cement dispatches was to various markets outside Andhra Pradesh during the quarter. Over 3.59 lakh tonnes and 3.65 tonnes of clinker were produced, he said.
The company’s scrip gained 3.68 per cent on the BSE on Wednesday to close at Rs 197.