Orient Cement's Profit Plunge and Acquisition Await

Orient Cement Ltd reported a significant 77.5% decline in its net profit for Q3 of 2024, citing lower sales as a key factor. Despite total expenses decreasing, revenue from operations also fell. The company is pending approval for Ambuja Cements Ltd's acquisition of a 46.8% stake.

Orient Cement Ltd has reported a steep 77.5 percent decline in consolidated net profit, registering Rs 10.14 crore for the third quarter ending December 31, 2024. Lower sales were primarily responsible for the drop in earnings.

A comparative analysis with last year's figures shows the company had recorded a net profit of Rs 44.99 crore in the corresponding quarter, according to a regulatory filing.

The company's revenue from operations came in at Rs 643.35 crore, down from Rs 751.31 crore in the previous year. While total expenses also decreased to Rs 629.3 crore from Rs 681.44 crore, the company remains in wait for necessary approvals for a significant acquisition by Ambuja Cements Ltd.

(With inputs from agencies.)