Star Cement has reported a dip of 47 per cent in its net consolidated profit during the first quarter of the financial year 2020-21. Its profit after tax (PAT) stood at Rs 44.23 crore in Q1 FY21 as against Rs 83.89 crore it recorded in the corresponding quarter last year, the company said in a BSE filing.
The company’s net consolidated income stood at Rs 297.84 crore in Q1 FY21, a dip of 36 per cent from Rs 468.20 crore it registered in the similar quarter previous fiscal.
Its revenue from cement segment stood at Rs 368.12 crore as against Rs 604.29 crore in Q1 FY21. The segment reported a decrease of 39 per cent.
In the regulatory filing it said, the company has commenced its manufacturing operations across all its plants in phased manner during the month of April. The company and its subsidiaries have made a detailed assessment of its liquidity position and the recoverability and carrying value of the its property, plant and other assets. It is expected to recover the carrying amount of these assets.