India Cements earns its highest EBITDA from Chennai Super Kings

CHENNAI: India Cements has earned its highest-ever EBITDA from IPL franchise Chennai Super Kings (of Rs 32.8 crore) in Q2, according to brokerage firm Motilal Oswal. This has come on the back of IPL revenues of Rs 51.5 crore. In the first quarter, IPL fetched India Cements more revenues - Rs 84.8 crore. However, EBITDA was only Rs 6.6 crore. The Q2 EBITDA from IPL was more than double of what Motilal Oswal had forecast (about Rs 15 crore). The operating performance of India Cements got a boost from this and the company's total EBITDA was at Rs 252 crore on revenues of Rs 1,092 crore in the second quarter. The company posted a Q2 net profit of nearly Rs 70 crore, from a loss of over Rs 33 crore this quarter last year, amid capacity overhand and sluggish demand in its bread-and-butter South market. But net profit was lower than the Q1 figure of Rs 102 crore. In the first half, IPL revenues were Rs 138 crore, about 6% of total revenue.