Rain Industries reports loss of Rs 97 crore in fourth quarter

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Rain Industries recorded a consolidated net loss of Rs 97 crore in the fourth quarter of December 2021, compared to a net profit of Rs 307 crore recorded in the fourth quarter of December 2020.

Net sales jumped 52.5% to Rs 4,026 crore in the fourth quarter of December 2021 from Rs 2,640 crore in the fourth quarter of December 2020. Adjusted EBITDA for the fourth quarter of December 2021 increased nearly 13% to Rs 541 crore. EBITDA margin slipped to 13.4% in Q4 December 2021 from 18.2% in Q4 December 2020.



Profit before tax declined sharply by 49.8% to Rs 223.46 crore in the fourth quarter of December 2021 compared to the fourth quarter of December 2020.

The company reported finance charges of Rs 119 crore in the fourth quarter of December 2021, compared to finance charges of Rs 124 crore in the fourth quarter of December 2020. last year.

Operationally, Calcined Petroleum Coke sales fell by 6.9% year-on-year to Rs 367,000 MT in Q4 Dec 2021 compared to Q4 Dec 2020. The pitch volume of coal increased by 18% to 131,000 MT in Q4 Dec 2021 compared to Q4 Dec 2020. Meanwhile, sales volume of other carbon products decreased by 2.9% to 132,000 MT in the fourth quarter of December 2021.

For the year ended 2021, adjusted net profit after tax increased 42% year-on-year to Rs 756 crore on a 38.8% year-on-year increase in operating income to 14,526.8 crore rupees.

Rain Industries is a vertically integrated global producer of a diverse portfolio of products that are critical raw materials. It operates in three business segments: Carbon, Advanced Materials and Cement.

Shares of Rain Industries closed up 9.36% at Rs 199.70 on Friday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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