Star Cement rallied 4.61% to Rs 196.40 after the cement maker's consolidated net profit grew 39.06% to Rs 73.52 crore in Q3 FY24 as against Rs 52.87 crore in Q3 FY23.
Revenue from operations rose 5.54% year on year (YoY) to Rs 651.40 crore in the quarter ended 31 December 2023.Profit before tax stood at Rs 113.41 crore during the third quarter, registering a growth of 37.02% from 82.77 crore posted in the same quarter last year.
Cost of materials consumed increased 8% YoY to Rs 155.77 crore while employee benefit expenses jumped 20.56% YoY to Rs 54.53 crore in the quarter under review.
On nine-month basis, the company's consolidated net profit climbed 36.93% to Rs 207.44 crore on 6.47% rise in net sales to Rs 1,997.13 crore in 9M FY24 over 9M FY23.
Star Cement is the leading cement company in North-Eastern India and one of the fastest growing cement brand in West Bengal & Bihar. The company has its 1.67 million tonnes per annum (MTPA) integrated cement plant in a strategic location in the idyllic town of Lumshnong in Meghalaya.
The scrip hit a life-time high of Rs 198.15 in todays intraday session.
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