Shree Cement has reported a 473.72 per cent rise in net profit at Rs 235.63 crore for the fourth quarter ended March 31, 2009, as compared to Rs 41.07 crore in the same quarter a year ago, on account of relatively higher depreciation charge during the correspoding quarter last year. The turnover for the quarter grew 22 per cent to Rs 806 crore.
Operating profit for the quarter increased 29 per cent to Rs 347 crore. Increase in operating profit is mainly attributable to volume growth, better capacity utilisation and cost optimisation measures undertaken by the company, said the company in a statement.
The board has declared an interim dividend of Rs 5 per share and final dividend of Rs 5 per share.
The company stock was traded at Rs 780, up 1.2% on the Bombay Stock Exchange in the late afternoon trade.