Shree Cements has reported 35 per cent increase in net profit to Rs 167.4 crore in the third quarter ended December 31, 2009 as against Rs 124 crore in the same qaurter last year.
Net sales has increased 30.17 per cent to Rs 866 crore from Rs 665.3 crore. The comapny's bottomline is below expectations on account of higher depreciation.
The company's depreciation is up from Rs 51 crore to Rs 95 crore.
Shree Cement has informed BSE that the board of directors at its meeting held on January 21, 2010, has declared Interim dividend of Rs. 5 per share for the financial year 2009-10.
The stock is down 2.33 per cent to Rs 2,140 at the BSE at 1220 hrs.