Shree Cement reports 9.6 pc fall, Stock Up

The India’s leading  cement manufacturer, Shree Cement Limited on Tuesday  announced its results for Q3 ended Dec 2018, reporting a  fall of 9.61% in its standalone net profit to Rs 301.29 crore as  against 333.33 crore that was reported a year before.

On the other hand, the company’s total income was up 18.65% to Rs 2,835.94 crore during the quarter under review, versus Rs 2,390.01 crore in the equivalent period of the previous fiscal. Its revenue from cement was demonstrated 16.32% up to Rs 2,559.38 crore, whereas revenue from the power section surged 43.77% to Rs 502.60 crore, Shree Cement said in a filing.

Shree Cement further informed the exchanges that its board in its meeting held on Tuesday declared an interim dividend of Rs 25/equity share of Rs10 each for FY 2018-19.

The falls in profit of Cement Company does not have any negative impact with investors.  During first afternoon hours of trade, Shree Cement share price quoted substantially higher at Rs. 15,999.55 per share up 2.05 percent or Rs. 320.85 on the NSE, whose benchmark index Nifty50 falls 40 points at 10921.80 and the Sensex down by 120 points.

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