Latest news with #ICL
Time of India
4 days ago
- Business
- Time of India
India Cements reports net loss at ₹132.90 crore in Q1 FY26
NEW DELHI: India Cements Ltd (ICL), now part of the Aditya Birla Group , on Saturday reported a consolidated net loss of Rs 132.90 crore for the first quarter ended June 2025. It had reported a net profit of Rs 58.47 crore a year ago, according to a BSE filing by ICL, now a subsidiary of UltraTech Cement. Its revenue from operations was marginally down at Rs 1,024.74 crore in the June quarter of FY26. This was Rs 1,026.76 crore in the corresponding quarter of the last fiscal. The total expenses of ICL declined 12.43 per cent to Rs 1,042.19 crore in the first quarter of FY26. ICL's total income, which includes other income, in the June quarter was marginally down at Rs 1,033.85 crore. UltraTech, the country's leading cement maker, acquired the promoter's stake in the South-based cement maker. Consequently, ICL became a subsidiary of UltraTech Cement, with effect from December 24, 2024. "PAT before onetime exceptional items was a negative Rs 9.13 crore compared to negative Rs 182.21 crore over the same period last year," said an earnings statement by the company. It has refinanced its debt, resulting in a significant reduction in finance costs to Rs 26.58 crore from Rs 82.36 crore in the corresponding quarter of the previous year. According to ICL, it is "deriving benefits of synergy" with its holding company, UltraTech, which will improve its efficiency. "The company is planning a capital expenditure programme over the next 2 years for improving efficiency and reducing operating costs, increasing the share of renewable power and improving safety standards," said ICL. It further added that its profitability is expected to improve further as the benefit of this capex programme starts flowing together with synergies from economies of scale, wider distribution network and stronger balance sheet. On the outlook, ICL said, it "is poised to grow stronger. Increasing government spending on infrastructure and the improvement in demand in housing markets will further boost the performance of the company".
News18
4 days ago
- Business
- News18
India Cements reports Q1 net loss at Rs 132.90 cr
Agency: New Delhi, Jul 19 (PTI) India Cements Ltd (ICL), now part of the Aditya Birla Group, on Saturday reported a consolidated net loss of Rs 132.90 crore for the first quarter ended June 2025. It had reported a net profit of Rs 58.47 crore a year ago, according to a BSE filing by ICL, now a subsidiary of UltraTech Cement. Its revenue from operations was marginally down at Rs 1,024.74 crore in the June quarter of FY26. This was Rs 1,026.76 crore in the corresponding quarter of the last fiscal. The total expenses of ICL declined 12.43 per cent to Rs 1,042.19 crore in the first quarter of FY26. ICL's total income, which includes other income, in the June quarter was marginally down at Rs 1,033.85 crore. UltraTech, the country's leading cement maker, acquired the promoter's stake in the South-based cement maker. Consequently, ICL became a subsidiary of UltraTech Cement, with effect from December 24, 2024. 'PAT before onetime exceptional items was a negative Rs 9.13 crore compared to negative Rs 182.21 crore over the same period last year," said an earnings statement by the company. It has refinanced its debt, resulting in a significant reduction in finance costs to Rs 26.58 crore from Rs 82.36 crore in the corresponding quarter of the previous year. According to ICL, it is 'deriving benefits of synergy" with its holding company, UltraTech, which will improve its efficiency. It further added that its profitability is expected to improve further as the benefit of this capex programme starts flowing together with synergies from economies of scale, wider distribution network and stronger balance sheet. On the outlook, ICL said, it 'is poised to grow stronger. Increasing government spending on infrastructure and the improvement in demand in housing markets will further boost the performance of the company". PTI KRH KRH BAL BAL view comments First Published: July 19, 2025, 18:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
4 days ago
- Business
- Mint
India Cements Q1 results: ICL reports net loss at ₹133 crore. Check details
New Delhi, Jul 19 (PTI) India Cements Ltd (ICL), now part of the Aditya Birla Group, on Saturday reported a consolidated net loss of ₹ 132.90 crore for the first quarter ended June 2025. It had reported a net profit of ₹ 58.47 crore a year ago, according to a BSE filing by ICL, now a subsidiary of UltraTech Cement. Its revenue from operations was marginally down at ₹ 1,024.74 crore in the June quarter of FY26. This was ₹ 1,026.76 crore in the corresponding quarter of the last fiscal. The total expenses of ICL declined 12.43 per cent to ₹ 1,042.19 crore in the first quarter of FY26. ICL's total income, which includes other income, in the June quarter was marginally down at ₹ 1,033.85 crore. UltraTech, the country's leading cement maker, acquired the promoter's stake in the South-based cement maker. Consequently, ICL became a subsidiary of UltraTech Cement, with effect from December 24, 2024. "PAT before onetime exceptional items was a negative ₹ 9.13 crore compared to negative ₹ 182.21 crore over the same period last year," said an earnings statement by the company. It has refinanced its debt, resulting in a significant reduction in finance costs to ₹ 26.58 crore from ₹ 82.36 crore in the corresponding quarter of the previous year. According to ICL, it is "deriving benefits of synergy" with its holding company, UltraTech, which will improve its efficiency. "The company is planning a capital expenditure programme over the next 2 years for improving efficiency and reducing operating costs, increasing the share of renewable power and improving safety standards," said ICL. It further added that its profitability is expected to improve further as the benefit of this capex programme starts flowing together with synergies from economies of scale, wider distribution network and stronger balance sheet.
Mint
4 days ago
- Business
- Mint
India Cements Q1 results: ICL reports net loss at ₹133 crore. Check details
New Delhi, Jul 19 (PTI) India Cements Ltd (ICL), now part of the Aditya Birla Group, on Saturday reported a consolidated net loss of ₹ 132.90 crore for the first quarter ended June 2025. It had reported a net profit of ₹ 58.47 crore a year ago, according to a BSE filing by ICL, now a subsidiary of UltraTech Cement. Its revenue from operations was marginally down at ₹ 1,024.74 crore in the June quarter of FY26. This was ₹ 1,026.76 crore in the corresponding quarter of the last fiscal. The total expenses of ICL declined 12.43 per cent to ₹ 1,042.19 crore in the first quarter of FY26. ICL's total income, which includes other income, in the June quarter was marginally down at ₹ 1,033.85 crore. UltraTech, the country's leading cement maker, acquired the promoter's stake in the South-based cement maker. Consequently, ICL became a subsidiary of UltraTech Cement, with effect from December 24, 2024. "PAT before onetime exceptional items was a negative ₹ 9.13 crore compared to negative ₹ 182.21 crore over the same period last year," said an earnings statement by the company. It has refinanced its debt, resulting in a significant reduction in finance costs to ₹ 26.58 crore from ₹ 82.36 crore in the corresponding quarter of the previous year. According to ICL, it is "deriving benefits of synergy" with its holding company, UltraTech, which will improve its efficiency. "The company is planning a capital expenditure programme over the next 2 years for improving efficiency and reducing operating costs, increasing the share of renewable power and improving safety standards," said ICL. It further added that its profitability is expected to improve further as the benefit of this capex programme starts flowing together with synergies from economies of scale, wider distribution network and stronger balance sheet. On the outlook, ICL said, it "is poised to grow stronger. Increasing government spending on infrastructure and the improvement in demand in housing markets will further boost the performance of the company".
Korea Herald
6 days ago
- Business
- Korea Herald
South Korea's student loan debt tops W2tr as youth unemployment deepens
Young South Koreans are borrowing more money than ever for college, while their chances of landing a stable job grow slimmer. New data from the Korea Student Aid Foundation reveals that student loan borrowing surged to 2.11 trillion won ($1.44 billion) in 2024, the highest figure in nine years. This marks an 11 percent jump from the previous year's total of 1.89 trillion won. The last time borrowing exceeded 2 trillion won was in 2015. The spike comes as job opportunities for young people are drying up. According to Statistics Korea, the number of employed South Koreans aged 15 to 29 fell by 173,000 in June compared to the same month last year. Youth employment has declined for 32 consecutive months. The Ministry of Employment and Labor reported that in June, there were only 39 job openings for every 100 job seekers, the lowest ratio for that month since the 1997 financial crisis. At the same time, student loan defaults are increasing. The number of borrowers behind on payments for standard repayment loans reached 24,587 in 2024. That's a 14 percent rise from the previous year and nearly 50 percent more than in 2021, when 16,669 borrowers were in default. KOSAF operates two main loan programs. Income-contingent loans postpone repayment until a borrower's income exceeds a threshold, while standard loans require repayment on a fixed schedule, regardless of employment. The latter has seen especially steep growth. Standard loan borrowing rose by 43.4 percent over the past three years, from 860.9 billion won in 2021 to 1.24 trillion won in 2024. ICL borrowing increased more modestly, from 795.3 billion won to 876.1 billion won in the same period. South Korea's leading job platforms are reporting steep drops in hiring. JobKorea said job postings from January to May were down 24.1 percent from a year earlier. Job ads specifically targeting recent college graduates fell 20.6 percent. A March survey by Incruit, another recruitment site, found that only 65.6 percent of companies had confirmed hiring plans, the lowest figure in three years. But KOSAF attributed the rise in loans to low interest rates and expanded eligibility policies, including extending ICL eligibility to graduate students in 2022. Local governments have also increased support, such as Gyeonggi Province's interest subsidy program, which has benefited over 430,000 students since 2010. Meanwhile, tuition is rising. South Korea's four-year universities raised tuition by an average of 4.1 percent in 2025. The OECD reported that government spending covered only 43.3 percent of higher education costs in South Korea as of 2020, far below the OECD average of 67.1 percent. The rest falls mostly on individuals and families. In contrast, the wage premium associated with having a college degree remains low. University graduates earned 134.9 percent of the wages of high school graduates in 2021, trailing the OECD average of 142.6 percent for that ratio.
