Mangalam Cement posts 201% rise in net profit

India-based Mangalam Cement reported standalone net profit of INR374.5m (US$5.1m) for the quarter ended 31 December 2020, a 201.1 per cent advance when compared with the equivalent period in 2019.

Net revenue increased by 10.2 per cent YoY to INR3.4049bn in the last quarter of 2020 from INR3.0904 in the corresponding quarter of the previous year.

Operating expenses declined by 2.3 per cent YoY to INR2.621bn during the October-December 2020 quarter from INR2.682bn in the year-ago period.

Operating profit rose by 92 per cent to INR784.2m in the October-December 2020 when compared with INR408.4m in the year-ago period, while the operating profit margin expanded YoY to 74.2 per cent in the quarter.

Interest fell by 4.6 per cent YoY to INR155.7m while tax rose by 187.1 per cent to INR198.1m.