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News Sagar Cements raises sales in third quarter of 2024 financial year

Sagar Cements raises sales in third quarter of 2024 financial year

Written by Global Cement staff 25 January 2024
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India: Sagar Cements recorded sales of US$80.5m in the third quarter of the 2024 financial year, up by 16% year-on-year from US$69.3m during the corresponding quarter of the previous financial year. Cement sales volumes rose by 14% year-on-year. The Hindu BusinessLine News has reported that the growth allowed Sagar Cements to reduce its net losses by 57%, to US$1.22m.

Managing director Sreekanth Reddy said “Favourable prices prevailed in our key markets. As far as EBITDA and margins are concerned, we observed a significant enhancement on a per-tonne basis, consistent with our earlier projections.” Reddy added “We anticipate this positive trend to persist in the future, supported in part by higher utilisation levels of recently-acquired units and strategic initiatives aimed at promoting the use of green power, alternative fuels and the deployment of electric trucks and wheel loaders.”

Last modified on 31 January 2024
Published in Global Cement News
Tagged under
  • India
  • Sagar Cements
  • Results
  • Outlook
  • Capacity utilisation
  • Electricity
  • renewable energy
  • Alternative Fuels
  • electric vehicles
  • Loss
  • GCW644
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