Shree Cements Q3 profit jumps over two folds to ₹632 crore

Shree Cements on Saturday posted over two-fold jump in consolidated net profit to ₹ 631.58 crore for the third quarter ended December 31, 2020.

It had reported a net profit of ₹ 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 % to ₹ 3,541.38 crore during the quarter under review as against ₹ 3,146.01 crore in the year-ago period.

Total expenses were at ₹ 2,797.24 crore as against ₹ 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. PTI KRH ANU ANU