India’s Star Cement has reported an 18.2 per cent decline in net profit to INR459.2m (US$6.4m) in the quarter ending 31 December 2019, compared with INR561.4m in the year-ago period.

However, net revenue increased 6.9 per cent YoY to INR4.29bn from INR4.01bn. Operating expenses rose 15.6 per cent in the 3QFY19-20, reaching INR3.71bn from INR3.21bn.