Shree Cement logs 44% yoy decline in its Q3FY23 net profit

8 Feb 2023 , 03:09 PM

Shree Cement reported a 44% year-on-year (yoy) decrease in standalone profit after tax to Rs277 crore for the quarter ended December 31, 2022, as compared to Rs492 crore in the previous corresponding quarter.

However, its operating revenue increased 15% year on year to Rs4,069 crore during the October-December 2022 period, compared to Rs3,552 crore the previous year.

EBITDA fell 7% yoy to Rs869 crore in Q3FY23, from Rs936 crore the previous year.

The company’s board of directors declared an interim dividend of Rs45 per share (450%) for fiscal year 2022-23. The board declared an interim dividend of Rs45 per share in the previous fiscal year 2021-22. For the fiscal year 2021-22, the total dividend was Rs90 per share.

During the current fiscal year, the company completed 84 MW of solar power plants in various states. Another 44 MW of green power capacity is expected to be completed by the end of fiscal year 2022-23.

At around 3.00 PM, Shree Cement was trading at Rs24,278.70 per piece, up by 0.0058% against the previous close of Rs24,277.30 on BSE. The counter hit a high of Rs24,603.20 and a low of Rs23,790.80 so far in the day.

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