Aided by Rs 294.28 crore profit on sale of investments, cement major India Cements Ltd closed Q3 of FY23 with a net profit of Rs 90.73 crore.
In a regulatory filing India Cements on Friday said it closed the quarter ended December 31, 2022 with a revenue from operations of Rs 1,219.46 crore (Q3FY22 Rs 1,108.46 crore) and a net profit of Rs 90.73 crore (Rs 3.30 crore).
The exceptional income item of Rs 294.28 crore is the profit on sale of investments made in Springway Mining Private Ltd.
According to India Cements, during the quarter under review, the company concluded the sale of investment held in its subsidiary Springway Mining Private Limited (SMPL) for an agreed consideration of Rs 476.88 crore vide Share Purchase Agreement (SPA) on October 10, 2022.
--IANS
vj/dpb
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app