Shree Cement surges on reporting 2- fold jump in Q1 consolidated net profit
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Shree Cement is currently trading at Rs. 24039.45, up by 359.95 points or 1.52% from its previous closing of Rs. 23679.50 on the BSE.
The scrip opened at Rs. 23731.90 and has touched a high and low of Rs. 24331.95 and Rs. 23574.55 respectively. So far 1029 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 27013.00 on 21-Feb-2023 and a 52 week low of Rs. 20061.65 on 28-Jul-2022.
Last one week high and low of the scrip stood at Rs. 24331.95 and Rs. 23023.05 respectively. The current market cap of the company is Rs. 86469.50 crore.
The promoters holding in the company stood at 62.55 % while Institutions and Non-Institutions held 24.62 % and 12.83 % respectively.
Shree Cement has reported results for first quarter ended June 30, 2023 (Q1FY24). The company has reported 84.16% rise in its net profit at Rs 581.12 crore for the quarter under review as compared to Rs 315.55 crore for the same quarter in the previous year. Total income of the company increased by 23.43% at Rs 5160.78 crore for Q1FY24 as compared Rs 4181.11 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 2- fold jump in its net profit at Rs 571.94 crore for the quarter ended June 30, 2023 as compared to Rs 278.86 crore for the same quarter in the previous year. Total income of the company increased by 19.09% at Rs 5233.90 crore for Q1FY24 as compared Rs 4394.75 crore for the corresponding quarter previous year.
