Mangalam sees 1H net profit up 82%

India-based Mangalam Cement announced its unaudited financial results for the quarter and half year ended 30 September 2021.

In the quarter ended 30 September 2021 (2Q21) the company saw revenues from operations advance 15.7 per cent to INR3.757bn (US$50.5m) from INR3.246bn in the 2Q20. Total revenues were up 5.9 per cent to INR3.84bn from INR3.625bn. However, profit before tax decreased 43.5 per cent to INR134m in 2Q21 from INR237m in the year-ago period due to significantly higher power and fuel costs. Net profit for the period declined 28.8 per cent to INR111m from INR156m.

In the half-year 2021 revenue from operation increased 32.9 per cent to INR7.341bn, up from INR5.522bn in the 1H20 while total income was up 32.4 per cent to INR7.465m from INR5.64bn. Profit before tax saw an 75.4 per cent uptick to INR677m from INR386m despite surging power, fuel, packaging and distribution cost. Net profit increased  81.5 per cent YoY from INR254m in the 1H20 to INR461m in the 1H21.