Crown Cement posts profit of BDT343m in 1QFY23-24

Crown Cement Plc of Bangladesh announced its financial results for the 1QFY23-24. The company reported a profit after taxation of BDT343m (US$3.09m) between July and September 2023 against a loss of BDT53m during the same period last year. The remarkable recovery in the 1QFY23-24 was due to sales growth and a price increase of 10.56 per cent compared to the previous year's first quarter, said the company.

Crown Cement's net sales increased to BDT6.21bn from BDT5.07bn. Similarly, the cost of sales rose to BDT5.11bn from BDT4.36bn during this period. The administrative expenses increased to BDT77m from BDT71m during this period. The company incurred a higher distribution cost of BDT166m against BDT138m in the corresponding period.