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

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

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.

Image Source


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

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. Image SourceAlso 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

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code