(Reuters) -India’s JSW Cement reported a second-quarter profit on Friday, as it dispatched more volumes of the construction material at higher prices.
The volume growth comes in a seasonally weak quarter when India’s annual monsoons slow construction activity, weakening demand for the material.
Consolidated total net profit for the July-September period came in at 864.3 million rupees ($9.8 million), compared with a loss of 643.9 million rupees a year ago.
Shares of JSW Cement closed 0.6% lower on Friday. They are roughly 17% down since their listing in August.
Cement prices have steadily recovered from lows hit in 2024 when demand took a hit from a slow pace in construction activity, especially infrastructure projects, following the country’s general elections.
Cement prices, on average, rose 5% in the reported period, data from brokerage Ambit Research showed.
That, coupled with a 7% rise in cement volumes, lifted revenue by more than 17% to 14.36 billion rupees.
Larger cement peers such as UltraTech and Ambuja also reported a rise in profit for the reported quarter.
($1 = 87.8950 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Anil D’Silva)
