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India Cements Q1 net loss at Rs 73.58 crore, revenue dips 5% to Rs 1,436.74 crore
India Cements Ltd has reported a consolidated net loss of Rs 73.58 crores ($9.83m) in the first quarter ending June 2021 due to lower selling prices and loss of volume. The firm said that the selling price of cement was lower due to severe competition caused by supply overhang; thus, reducing its variable cost, which was offset by the reduction in realisation that resulted in lower margins, impacting the liquidity severely resulting in lower volume for the quarter.
India Cements Ltd has reported a consolidated net loss of Rs 73.58 crores ($9.83m) in the first quarter ending June 2021 due to lower selling prices and loss of volume. The firm said that the selling price of cement was lower due to severe competition caused by supply overhang; thus, reducing its variable cost, which was offset by the reduction in realisation that resulted in lower margins, impacting the liquidity severely resulting in lower volume for the quarter. 
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