 "Shree Cements third quarter profit jumps over two folds to Rs 632 cr")
Shree Cements on Saturday posted over two-fold jump in consolidated net profit to Rs 631.58 crore for the third quarter ended December 31, 2020.
It had reported a net profit of Rs 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 per cent to Rs 3,541.38 crore during the quarter under review as against Rs 3,146.01 crore in the year-ago period.
Total expenses were at Rs 2,797.24 crore as against Rs 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.
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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.