India: Dalmia Bharat has blamed the general election for its slow cement sales volumes growth in its first quarter. Its sales volumes of cement increased slightly to 4.55Mt. Its revenue grew by 7% year-on-year to US$365m in the first fiscal quarter to 30 June 2019 from US$340m in the same period in 2018. Its earnings before interest, taxation, deprecation and amortisation (EBITDA) rose by 27% to US$95.7m from US$75.2m.
The cement producer also said that its power and fuel costs per tonne had been negatively affected by its Kalyanpur plant operating at low capacity utilisation levels, partly due to a lack of coal. However, it noted that its raw material costs had been ‘moderated’ due to falling slag prices.