Mangalam Cement reports fall in revenue

Mangalam Cement Ltd, part of BK Birla Group, has reported revenue from operations of INR4205.3m (US$50.8m) in the quarter ended 30 June 2023. This compares to INR4593.3m in the previous quarter and INR5138m in the same quarter a year earlier. Net profit in the June 2023 quarter came in at INR83.6m, up from the INR42.8m recorded in the previous quarter, but down from the INR158.8m seen in the quarter ended 30 June 2022.

Basic and diluted earnings per share fell from INR10.22 in the June 2022 quarter to INR5.68 in the quarter ended 30 March 2023, before declining further to INR5.34 in the June 2023 quarter. In terms of expenses, these have fallen from INR4741.8m in the June 2022 quarter to INR4031.6m in the same quarter the following year. Although power and fuel costs have risen over the same period, other expenses, such as freight and forwarding, and finance costs have declined.