India Cement Ltd. reported a net loss in the first quarter of FY24.
The cement manufacturer's net loss stood at Rs 73.6 crore in the June quarter, compared to a net profit of Rs 83.8 crore in the year-ago period, according to an exchange filing.
The cement sector has remained under pressure over the past few months following the broader markets. The steep rise in pet coke/coal prices amid surge in crude oil prices, led by Russia-Ukraine crisis led to the pressure.