Shree Cement Q3FY22 Results: Company’s profit slips 21%, sales up 7% YoY – declares interim dividend

Cement major Shree Cement reported muted third quarter earnings for the financial year 2021-22 (Q3FY22). The company posted year-on-year (YoY) declines on all parameters, except revenue from operations during the quarter. 

According to the company’s filing to exchanges, the profit slipped over 21 per cent to Rs 492 crore in December-end quarter of FY22, as compared to Rs 626 crore in the same quarter a year ago, while the revenue came over 7 per cent higher to Rs 3551.8 crore in Q3FY22 from Rs 3309 crore YoY. 

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The company’s EBITDA dipped by over 24 per cent to Rs 825.3 crore in October-December quarter as against Rs 1089.5 crore in the corresponding quarter of FY21. Similarly, the margins for the quarter tumbled by almost 1000 basis points to 23.2 per cent from 32.9 per cent YoY. 

As per the filing, the Shree Cement’s board has declared Interim dividend of Rs 45 per equity share of Rs. 10 each for FY22, which shall be payable to those shareholders who hold shares on the record date fixed by the company that is Saturday, 12th February, 2022. 

The dividend shall be paid from Monday, 28th February, 2022, the company further said in the filing.