Shree Cement Q3 Results: Net profit falls 21.4% YoY to Rs 492 cr

NEW DELHI: Shree Cement on Friday said its net profit fell 21.43 per cent year-on-year (YoY) to Rs 491.99 crore for the December quarter compared with Rs 626.23 crore in the same quarter last year.

Revenue from operations increased 4.85 per cent YoY to Rs 4,464.35 crore from Rs 4,257.49 crore in the corresponding quarter last year.

The company said the pandemic is unlikely to impact the recoverability of the carrying value of its assets as of December 31.

Looking at the present situation of the pandemic, the extent to which the same will impact the company’s future financial results is currently uncertain and will depend on further developments, it said, adding that it is taking all necessary steps to secure the health and safety of its employees.

The company’s net worth stood at Rs 16,784 crore at the end of the quarter compared with 16,281 crore at the end of the September quarter and 14,472 crore in the year-ago quarter.

The net profit margin for the quarter came in at 14 per cent compared with 18 per cent in the September quarter and 19 per cent in the year-ago quarter.

The board declared an interim dividend of Rs 45 per share for FY22, payable to those who hold shares on record date fixed by the company, i.e. Saturday, February 12.

The dividend will be paid on Monday, February 28, the company said.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TheDailyCheck is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected] The content will be deleted within 24 hours.