Shree swings to quarterly profit

Shree swings to quarterly profit
Published: 30 May 2011

Shree Cement Ltd reported a net profit of INR66 crore (INR660m) for the quarter ended on March 31, 2011. The company had reported a loss of INR71 crore (INR710m) for the corresponding period last fiscal year.

During the quarter, the company’s net sales went up by over 13 per cent to INR1070 crore (INR10.7bn). For the year ending March 31, the company reported 69 per cent dip in net profit to INR210 crore (INR2100m).

The board of directors has proposed a final dividend of INR8, thereby taking the total dividend during 2010-11 to INR14 on equity shares of INR10 each.