Sagar Cements tanks 6% as firm posts loss in Q4

NEW DELHI – Shares of Sagar Cements slumped 6.2 per cent in early trade on Thursday after the Hyderabad-based cement player reported a consolidated net loss of Rs 19.15 crore for the fourth quarter ended on March 31, 2022.

The company had posted a consolidated net profit of Rs 48.14 crore in the January-March quarter a year ago.

The company’s counter dropped to a low of Rs 195.90 as against Rs 208.85 at the previous close on the BSE.


For the period under review, the firm’s revenue from operations registered a rise of 20.12 per cent to Rs 501.72 versus Rs 417.65 crore the same period a year ago, PTI reported.

“Realisations have further improved compared to the exit price of the quarter largely necessitated by the unrelenting increase in fuel prices. Demand sentiment as well is fairly buoyant, helping sustain the price revision,” Sagar Cements’ Joint Managing Director Sreekanth Reddy was quoted as saying in PTI’s report.

For the previous financial year as a whole, the company reported a 68.21 per cent decline in profit after tax to Rs 59.15 crore. Sagar Cements had posted a net profit of Rs 186.12 crore in 2020-21 (Apr-Mar).

Its revenue from operation stood at Rs 1,596.87 crore in the previous financial year, registering a rise of 16.44 per cent from Rs 1,371.32 crore in 2020-21, PTI’s report said.

The board of the company in a meeting held on Wednesday has recommended a dividend of Rs 0.70 per equity share on equity shares of Rs 2 each for the previous financial year, PTI reported.