Shree Cements third quarter profit jumps over two folds to Rs 632 cr
Shree Cements on Saturday posted over two-fold jump in consolidated net profit to Rs 631.58 crore for the third quarter ended December 31, 2020.
It had reported a net profit of Rs 311.83 crore in October- December period a year ago, Shree Cements said in a filing to BSE.
Revenue from operations was up 12.57 per cent to Rs 3,541.38 crore during the quarter under review as against Rs 3,146.01 crore in the year-ago period.
Total expenses were at Rs 2,797.24 crore as against Rs 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 the approval of the shareholders.
The company operates in the market with brands Bangur Cement, Shree Cement,Shree Jung Rodhak and Rockstrong.
It also operates in the power sector and produces Autoclaved Aerated Concrete (AAC) blocks.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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