Crown Cement has posted a rise in profit and revenue for the third quarter of the fiscal year (FY) 2024–25, buoyed by higher sales.

The cement maker's profit soared by 76 percent year-on-year to Tk 30.20 crore in the January–March period of FY25, according to its latest financial statement.

Revenue climbed 30 percent over the same quarter to Tk 1,192.20 crore.

The company credited the growth to a 30.14 percent jump in sales volume and a 0.46 percent uptick in prices, supported by various sales initiatives.

Earnings per share (EPS) rose to Tk 2.03 during the quarter, up from Tk 1.15 a year earlier.

Despite the quarterly surge, Crown Cement's net profit for the first nine months of FY25 fell to Tk 52.83 crore, down from Tk 87.64 crore in the same period last year. This represents a decline of Tk 34.82 crore, even as revenue rose 15.12 percent.

Crown Cement said the decline in profit was mainly due to higher depreciation costs from its new capacity expansion, interest charges on long-term loans for the new production unit, increased energy costs, and elevated spending on advertising, promotions, and workforce expansion to gain market share.

An elevated effective tax rate, stemming from the imposition of minimum tax, also weighed on profitability, said the company.

Earnings per share for the nine-month period slipped to Tk 3.56, down 39.72 percent from Tk 5.90 a year earlier.

However, net operating cash flow per share (NOCFPS) surged to Tk 17.16, compared to Tk 4.46 in the same period last year.

The improvement was driven by improved cash collections, non-cash depreciation from the sixth unit, and extended credit terms from suppliers.

Selling and distribution costs rose due to increased spending on advertisements and the deployment of a larger sales team to leverage the company's expanded capacity.

Finance costs edged down 6.73 percent on the back of reduced foreign exchange losses, aided by a more stable exchange rate.

However, interest expenses rose due to the long-term project loan for the sixth unit and higher prevailing interest rates.

As of March 31, sponsor-directors jointly held 65.33 percent of the company's shares, according to Dhaka Stock Exchange data.

Institutional investors owned 18.34 percent, the public held 16.28 percent, and foreign investors accounted for 0.05 percent.