Crown Cement returns to profit

Crown Cement PLC, a listed cement manufacturer, returned to profit in the first quarter of fiscal year (FY) 2024 after incurring a loss in the same quarter of the previous year.

It logged a profit of Tk 34 crore in the July-September period of FY2023-24. In the same period of previous fiscal year, it incurred a loss of Tk 5 crore.

Subsequently, its earnings per share stood at Tk 2.32 at present compared to Tk 0.36 in the negative previously.

It returned to profit mainly due to higher sales and higher prices of goods, the company said. It also took some steps to control its costs, it added.

The company's sales revenue increased 22 percent to Tk 621 crore, according to financial statements.