Star Cement reports 27% rise in 3Q net profit

India-based Star Cement saw its net profit increase by 27 per cent YoY to INR303m (US$3.67m) for the quarter ended 31 December 2022 (3QFY22-23).

Net revenue advanced by 15.4 per cent to INR6234.9m in the October-December 2022 quarter when compared with INR5400.9m in the year-ago quarter.

Operating expenses in 3Q22 were up by 10.8 per cent to INR5582.8m from INR5040.5m in the 3Q21.

Operating profit surged by 81 per cent to INR652.2m in the 3Q22 when compared with INR360.3m reported in the equivalent period of the previous year. As a result, he operating profit margin grew to 56.8 per cent in the 3Q22.

Taxation increased by 521.6 per cent YoY to INR169.9m. Interest was up 18.9 per cent YoY to INR35.3m.