Crown Cement’s profit drops 48pc in Q2

Business Desk :

Crown Cement’s profit declined 48 percent year-on-year to Tk 18.85 crore in the second quarter of the 2024-25 fiscal year despite registering higher revenue.

Its earnings per share (EPS) for the quarter stood at Tk 1.27, down from Tk 2.44 in the same period last year, according to the company’s financial statement.

For the first six months of the fiscal year, its EPS dropped 67.96 percent to Tk 1.52 from Tk 4.76 in the same period the previous year.

Crown Cement attributed increased depreciation from capacity expansion, interest expenses on long-term loans, electricity tariff hikes and higher marketing and manpower costs for the EPS decline.

Despite the profit decline, the company’s sales revenue in Q2 grew by 12.99 percent to Tk 803.55 crore, driven by a 12.08 percent rise in sales volume and a 0.63 percent increase in per-bag prices.