Eagle Materials reports Q2 FY2021 net profit increase of 33.7 % YoY, up to US$ 96 million. Six months FY2021 showed an increase in net profit of 69.9 % YoY, up to US$ 192.24 million. Q2 revenue went up by 12 %, amounting to US$ 447.7 million.
Revenue in the Heavy Materials sector, which includes Cement, Concrete and Aggregates as well as Joint Venture and intersegment Cement revenue, was US$ 324.4 million, a 15 % improvement. Heavy Materials operating profit increased 15 % to US$ 85.2 million primarily because of improved cement net sales prices and profit from the recently acquired Kosmos Cement Business.
Cement revenue for the quarter, including Joint Venture and intersegment revenue, was up 22 % to US$ 278.1 million and operating profit were a record US$ 79.9 million, up 20 %. These increases reflect improved cement net sales prices and the contribution of the recently acquired Kosmos Cement Business, which accounted for approximately US$ 50.0 million of revenue and US$ 14.4 million of operating profit during the quarter.
