Star Cement reports 10% rise in revenue

India’s Star Cement has reported a 9.8 per cent YoY rise in revenue to INR6.03bn (US$82.53m) for the quarter ending 31 March 2021, compared to INR5.49bn in the year-ago period. Net profit remained largely consistent at INR853m from INR858.3m.

The company also reported a 6.7 per cent YoY fall in revenue to INR17.2bn for the FY20-21. Net profit declined 34.5 per cent to INR1.87bn from INR2.86bn.

Star Cement also commenced production at a new 2Mta grinding unit in Siliguri, West Bengal, in January 2021. The plant represented an investment of around INR4.5bn.