India: Continued oversupply coupled with low prices pushed The India Cements Ltd (ICL) into the red in the second quarter of 2013. The South India-based cement company said that it had incurred a net loss of US$3.6m for the quarter ending 30 September 2013, compared with a net profit of US$7.8m during the same quarter in 2012. Weak demand for cement resulted in mounting pressure on cement selling prices.
The India Cements (ICL) slips into red
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