Premier Cement’s profit drops 11% in January-March despite sales increase 

Premier Cement Mills PLC posted an 11 percent year-on-year decline in profit to Tk 27.2 crore in the third quarter of 2023-24 despite a significant increase in sales. 

It was Tk 30.79 crore in the January-March quarter of 2022-23. 

The company's revenue for Q3 was Tk 753.23 crore, an increase of 25 percent from Tk 601.49 crore in the same period of FY23, according to the unaudited financial statement. 

Despite the decline in profit, the company's net operating cash flow per share increased to Tk 0.5 from Tk 0.26. The net asset value per share was Tk 63.52 on March 31 this year against Tk 59.33 on June 30 last year.

Premier Cement, one of Bangladesh's largest and most renowned cement brands, began its journey as a private limited company in 2001. In 2017, it signed an agreement with FL Smidth-Denmark to install a vertical roller mill, increasing its capacity to 5.16 tonnes to help reduce production costs.

Premier Cement became a public limited company in 2010, with an authorised capital of Tk 500 crore. It was listed on the Dhaka Stock Exchange and Chittagong Stock Exchange in 2013.

Shares of the company declined 2.71 percent to Tk 61 as of 1:06 pm today.