Star Cement sees 16% rise in net profit

India-based Star Cement reported a standalone net profit of INR550.8m (US$7.8m) for the quarter ended 30 September 2019, up 16.2 per cent YoY from INR474m in the year-ago period.

The company’s net revenues increased by seven per cent to INR3.735bn in the July-September quarter whencompared with INR3.49bn in July-September 2018.

Operating expenses were up 9.5 per cent YoY to INR3.105bn from INR2.934bn in the equivalent quarter of the previous year while other income surged from INR2.7m to INR77.4m.

Operating profit edged down by 3.8 per cent to INR630.3m in July-September 2019 from INR655.3m in the year-ago period.