Companies

Shree Cements Q3 profit jumps over two-fold to ₹632 cr

PTI New Delhi | Updated on January 30, 2021

Revenue from operations was up 12.57% at ₹3,541.38 crore during the quarter against ₹3,146.01 crore in the year-ago period

Shree Cements on Saturday posted an over two-fold jump in consolidated net profit to ₹631.58 crore for the third quarter ended December 31, 2020.

It had reported a net profit of ₹311.83 crore in the October-December period a year ago, Shree Cements said in a filing to the BSE.

Also read: UltraTech net more than doubles on better realisation, lower cost

Revenue from operations was up 12.57 per cent to ₹3,541.38 crore during the quarter under review against ₹3,146.01 crore in the year-ago period.

Total expenses stood at ₹2,797.24 crore, compared to ₹2,801.89 crore.

Meanwhile, in a separate filing, Shree Cements said its board has reappointed Hari Mohan Bangur as Managing Director of the company for a further period of five years.

His reappointment comes into effect from April 1, 2021 and would be subject to approval by the shareholders. The company operates in the market with brands Bangur Cement, Shree Cement, Shree Jung Rodhak and Rockstrong.

Also read: Birla Corp Q3 profit surges 82% to ₹148 crore

It also operates in the power sector and produces Autoclaved Aerated Concrete (AAC) blocks.

Published on January 30, 2021

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