Star Cement records 10% rise in operating revenue

Star Cement Ltd has released its results for the third quarter of FY17-18, showing a growth in operating revenue of 10.1 per cent YoY. Adjusted for excise duty, this translates to INR3.77bn (US$58.8m) against INR3.42bn of the 3QFY16-17, according to IIFL. EBITDA marked a considerable increase of 60.4 per cent to INR1.41bn in comparison with INR0.88bn of the previous fiscal. The EBITDA margin expanded by 1173bps YoY to 37.5 per cent.

Elsewhere, Sagar Cements has reported a 47.21 per cent rise in production during January 2018. The company’s consolidated cement production reached 241,347t, up from 163,947t seen in the same period last year. Similarly, cement sales rose 46.47 per cent in January, increasing to 237,454t compared with 162,117t of the year-ago period.