Orient Cement Q4 results: Net profit rises over twice to Rs 100 cr

19 May 2021 CW Team

Orient Cement Ltd, a firm of C K Birla group, reported on Monday a rise over two-fold in the net profit to Rs 99.87 crore in the fourth quarter at the end of March 2021.

It reported a net profit of Rs 44.06 crore in the January to March quarter a year back. Orient Cement said this in a BSE filing.

Its revenue from the operation rises 27.06% to Rs 831.61 crore during the January-March quarter under review against Rs 654.52 crore in the corresponding time a year before.

The total expenses were Rs 680.83 crore in Q4/FY2020-21 rose 14.96% against Rs 654.52 crore.

In the year 2020-2021, the company's net profit rose over two-fold to Rs 214.18 crore. The amount was Rs 86.58 crore in the earlier year.

But its revenue from operations for the fiscal year was slightly down by 4.03% at Rs 2,324.08 crore. Previously it was Rs 2,421.79 crore in FY2019-20.

The company pronounced that the arise of the Covid-19 pandemic and simultaneous lockdown imposed by the government in the previous year, the production facilities of the company was temporarily closed and was opened in a phased manner in April and May 2020 after the restrictions were released.

The company has also said that current sales volume has impacted though, their cement demand is progressively improving with improved prices.

In a separate filing, Orient Cement informs that in a meeting held on Monday, its board suggested a final dividend of 150%, that is Rs 1.50/equity share of Re 1 each for the year ended 31 March 2021. On Monday, the shares of Orient Cement settled for Rs 121.65 per unit on the BES, which rose 2.23% from their previous close.

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Also read: L&T Q4 results: Consolidated net profit up 3% by Rs 3,293 cr

Also read: ITD Cementation stocks soar after receiving Rs 950 cr order

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