Star Cement net profit falls QoQ

Star Cement has posted revenue from operations of INR5958m (US$73.6m) in the quarter ended 30 September 2022. This compares to INR6587m in the previous quarter and INR4102m in the quarter ended 30 September 2021. Net profit attributable to shareholders of the company came in at INR235.5m in the September 2022 quarter, down from INR413m in the previous quarter but up from INR229m in the year-ago period.

Basic earnings per share came in at INR0.58 in the quarter ended 30 September 2022, marking a decline from INR1.02 QoQ but up from INR0.56 YoY. Power and fuel expenses expanded from INR284m in the September 2021 quarter to INR512m in the same quarter a year later.

In the half year ended 30 September 2022, revenue from operations stood at INR12,546m, versus INR9214m in the year-ago period. Net profit over the same timeframe contracted from INR771m to INR648m as expenses increased, most notably power and fuel, which jumped from INR780m to INR1137m.