Orient Cement Q3 Profit Soars 63.5% to Rs 45 Cr - Business News
Feb 05, 2024 20:20
Orient Cement Ltd reported a 63.54% rise in net profit to Rs 44.99 crore for the December quarter, driven by strong revenue growth. Read more.
Photograph: Amit Dave/Reuters
New Delhi, Feb 5 (PTI) CK Birla group firm Orient Cement Ltd on Monday reported a 63.54 per cent increase in consolidated net profit to Rs 44.99 crore for the December quarter.
The company had reported a net profit of Rs 27.51 crore in the year-ago period, Orient Cement Ltd (OCL) said in a regulatory filing.
Its revenue from operations rose 2.6 per cent to Rs 751.30 crore during the quarter under review from Rs 732.29 crore a year ago.
OCL's total expenses were down 1 per cent to Rs 681.44 crore in the third quarter of the ongoing fiscal.
Its total income was at Rs 753.22 crore, up 2.7 per cent in the December quarter.
Meanwhile, in a separate filing, OCL said its board has approved the reappointment of Desh Deepak Khetrapal as the Managing Director and Chief Executive Officer of the company, subject to approval of the shareholders, for a period of one year.
Shares of Orient Cement Ltd on Monday settled at Rs 267.10 on the BSE, down 4.42 per cent from its previous close.
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