UltraTech Cement owned India Cements announced its January-March quarter results for fiscal 2024-25 (Q4FY25) on Saturday, April 26, reporting a net loss of ₹14.6 crore, compared to a loss of ₹60.5 crore in the corresponding period last year.
Cement prices declined around seven percent year-on-year in April-January FY25, amid weak demand and increasing competition due to large supply additions by leading companies, according to a report by rating agency Ind-Ra.
Though prices of cement (a bag of 50 kg) have increased sequentially from November 2024 with construction activities picking up pace following the monsoon and festive season, they remained low year-on-year, it said.
“While the prices are likely to improve in the seasonally stronger Q4, large capacity additions are likely to keep the overall pricing environment weak; FY25 is likely to witness a high single-digit decline – the highest in the past decade,” it said.