Mangalam Cement sees best session in over 18 months on Q1 profit

Reuters August 6 | Updated on August 06, 2019 Published on August 06, 2019

Shares of Mangalam Cement Ltd rose as much as 13.7 per cent to Rs 253, their biggest daily percentage gains since January 16, 2018.

The cement manufacturer posted June-quarter profit of Rs 33.22 crore ($4.70 million) versus a loss of Rs 15.32 crore. Revenue rose 31 per cent to Rs 333 crore.

Stock est PE of 22.54 is well above the sector average of 19.37.

Up to last close, the stock is down 0.3 per cent this year, while peer Sagar Cements is 17 per cent lower ($1 = 70.7250 rupees)

Published on August 06, 2019
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