Shree Cements Reports Two-Fold Jump In Q3 Profit To Rs 632 Crore

On Saturday, Shree Cements reported over two-fold jump in consolidated net profit to Rs 631.58 crore for the December-ended quarter.

It had reported a net profit of Rs 311.83 crore in October-December 2019 period, Shree Cements said in a filing to BSE.

Its revenue from operations was up 12.57% 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 1 April 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.