Mangalam Cement reports 43% uptick in income in 1QFY23

Mangalam Cement has reported a 42.9 per cent YoY increase in total income to INR5181.7m (US$65.13m) in the 1QFY23, compared to INR3625.1m in the same quarter a year earlier. Over the same period, net profit declined by 19.8 per cent to INR28.1m, while earnings per share fell 19.8 per cent to INR10.22, compared to INR12.75 in the 1QFY22.

Compared QoQ rather than annually, the company’s total income advanced by 12.7 per cent in the 1QFY23 versus the 4QFY22. Over the same period, net profit improved by 60.8 per cent from INR174.8m, while earnings per share grew by 60.7 per cent from INR6.36.