On a consolidated basis, Shree Cement's net profit jumped 57.6% to Rs 535.93 crore on 2.1% decline in net sales to Rs 3,415.14 crore in Q4 March 2020 over Q4 March 2019.
The profit was aided by an improved operational performance. Profit before tax (PBT) rose 45.39% to Rs 616.36 crore in Q4 March 2020 over Q4 March 2019.The company's fuel and power expenses fell 19.84% year-on-year (YoY) to Rs 698.08 crore during the quarter. Employee cost remained almost stable at Rs 200.48 in Q4 March 2020 compared with Rs 200 crore in the corresponding period of the previous year.
The cement maker's net profit rose 52.61% to Rs 1,535.85 crore on 2.50% increase in net sales to Rs 12,868.39 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT jumped 68.84% to Rs 1934.26 crore in FY20 over FY19. The result was announced after market hours on Friday, 8 May 2020.
Shares of Shree Cement rose 1.91% to Rs 18,740.85 on Friday. The stock has gained 17% in last one month as compared to a 5.85% rise in BSE Sensex.
Shree Cement replaced private lender Yes Bank in the benchmark index Nifty 50 from 27 March 2020.
Shree Cement is primarily an Indian cement manufacturer. It also produces and sells power under the name Shree Power and Shree Mega Power.
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