Shree Cement Q3 Results: The company has announced a dividend of 450% for investors. While the company's profits declined in the December quarter.
Shree Cement Q3 Results:
Cement sector giant Shree Cement has released the results of the December quarter. According to the exchange filing, the company's profits have declined. Standalone profit stood at Rs 277 crore, up from Rs 492 crore in the year-ago period. But there has been strong profit for shareholders. The company has announced a dividend of 450% for investors.
Results are weaker than anticipated
In the exchange filing, the company said that standalone income was Rs 4070 crore, which was Rs 3552 crore in the same quarter a year ago. However, working profits declined. EBITDA has come down from Rs 826 crore to Rs 708 crore. Similarly, margin has also come down from 23.3% to 17.4%. Shares of Shree Cement are trading at a price of Rs 1 with a decline of 24015% on BSE.
Shareholders will get a dividend of ₹ 45
The government has also announced an interim dividend along with the December quarter results. Shareholders will get a dividend of Rs 45 per share. For this, the X date has been fixed on February 16, 2023. For a face value of Rs 10, shareholders will get a dividend of 450% per share.