India Cements Ltd. on Friday (August 9) reported a net profit of ₹58.5 crore in the first quarter ended June 2024 as against a net loss of ₹87.4 crore in the same quarter a year ago.

Consolidated revenue from operations in the quarter under review fell 28.5% to ₹1,026.8 crore, compared to ₹1,436.7 crore in the corresponding period a year ago, India Cements Ltd said in a regulatory filing.

The company posted an EBITDA (earnings before interest, tax, depreciation and amortisation) loss of ₹24.6 crore for the quarter.

The cement manufacturing company informed the exchanges that it recorded an exceptional credit of ₹240.7 crore during the April to June period.

Shares of India Cements Ltd. were trading 0.31% higher at ₹369.25 apiece on the NSE. The stock has gained over 40% so far in 2024.