Cement sector Q1 review: What lies ahead after mixed performance in Q1? Check top stocks to bet on
According to Nirmal Bang Securities, at 93 million tonnes (MT), cement volumes in the June quarter increased by 14 per cent YoY. The overall volume was up by 10 per cent YoY at 380 MT in FY23, the brokerage notes.
The cement sector reported mixed results for the quarter ended June 30, 2023 (Q1 FY24). According to a report by Sharekhan, the cement companies' revenue during the quarter grew 15.8 per cent year-on-year (YoY), with a dip of 6.3 per cent YoY in weighted average EBITDA/tonne. The net profit increased marginally by 4.6 per cent YoY, while blended realisations declined by 2.5 per cent YoY, as estimated.
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