Star Cement Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 07, 2024 at 04:59 am EST
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Star Cement Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 6,514.05 million compared to INR 6,171.99 million a year ago. Revenue was INR 6,555.37 million compared to INR 6,289.31 million a year ago. Net income was INR 735.19 million compared to INR 528.74 million a year ago. Basic earnings per share from continuing operations was INR 1.82 compared to INR 1.31 a year ago. Diluted earnings per share from continuing operations was INR 1.82 compared to INR 1.31 a year ago.
For the nine months, sales was INR 19,971.35 million compared to INR 18,756.88 million a year ago. Revenue was INR 20,157.69 million compared to INR 19,150.27 million a year ago. Net income was INR 2,074.44 million compared to INR 1,514.87 million a year ago. Basic earnings per share from continuing operations was INR 5.13 compared to INR 3.75 a year ago. Diluted earnings per share from continuing operations was INR 5.13 compared to INR 3.75 a year ago.
Star Cement Limited is an India-based cement company in North-Eastern India. The Company is engaged in the manufacture of cement, cement clinker, and generation of pawer. It operates through segments: Cement and Power. The Company has its 1.67 million tons per annum (MTPA) integrated cement plant in the idyllic town of Lumshnong in Meghalaya. Its product range for construction includes Ordinary Portland Cement (OPC 43-Grade) and (OPC 53-Grade) and Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC) and a marque product in the value-added segment Anti Rust Cement (ARC). In addition, the Company has two grinding units, a two MTPA cement unit in Sonapur near Guwahati and another cement unit at Mohitnagar near Siliguri in West Bengal, with a capacity of two million tons per annum (MTPA), with an installed capacity of around 5.7 MTPA. The Company is selling its product across northeastern and eastern states of India.