Published on 22/10/2019 3:05:14 PM | Source: Dion Global Solutions Ltd

Shree Cement Q2 net profit zooms 526.50% at Rs 309.05 cr

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The company reported standalone net profit of Rs 309.05 crore for the quarter ended September 30, 2019 as compared to Rs 49.33 crore in the same period last year, registering a year-on-year growth of 526.50 per cent. Net revenue of the company rose moderately by 8.32 per cent at Rs 2,801.71 crore in July-September quarter of this fiscal as against Rs 2,586.59 crore in the corresponding period last year. During July-September quarter, operating expenses dropped by 5.29 per cent to Rs 1,957.56 crore from Rs 2,066.86 crore in year ago period. Other Income grew by 12.42 per cent at Rs 57.75 crore versus (Sep'18 Rs 51.37 crore).

Operating Profit surged by 62.42 per cent to Rs 844.15 crore as against Rs 519.73 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 49.98 per cent in September quarter. Interest grew by 16.12 per cent y-o-y to Rs 71.74 crore, while Taxation increased by 294.86 per cent at Rs 92.79 crore (Sep'18 Rs -47.62 crore).