LafargeHolcim Bangladesh’s Q1 net profit up 98%

The net profit of LafargeHolcim Bangladesh (LHB) has increased by 98 per cent year-on-year in the first quarter of 2021.
In January-March, it bagged Tk103 crore in profit after tax, which was only Tk52 crore in the corresponding period of the last year, it said in a media release on Thursday.
“Our new water repellent cement and the new business channel ‘direct to retail’ have got off to a solid start,” said LHB CEO Rajesh K Surana.
“We have also started producing clear size aggregates in this quarter.”
 “We have started receiving positive responses for these new products from our customers”, he added.
The company saw Tk632 crore in sales in this time, a 23 per cent up year-on-year, the release said.
Besides, the operating EBIT of LHB’s increased by 105 per cent with 900 basis points margin improvement in the first quarter.
LBH has recently launched specialised waterproof cement “Holcim Water Protect” which is the first of its kind in the market and has started yielding incremental growth for the company.