INSUBCONTINENT EXCLUSIVE:
Cement manufacturer Shree Cement posted a 2.87 per cent rise in its standalone net profit at Rs 309.95 crore in the quarter ended December
2,848.34 crore, up 2.43 per cent from Rs 2,780.63 crore clocked in the year-ago-period
The company said cement sales went up 6 per cent to 5.98 million tonne from 5.64 million tonne recorded in the corresponding quarter of the
interest, depreciation, taxes and amortization) and net profit of the company increased during the quarter ended December 31, 2019," Shree
There are however, green shoots visible on the back of good monsoon and infra spending."
During the quarter under review, Shree Cement said
it raised Rs 2,400 crore through Qualified Institutions Placement (QIP) and allotted 12,43,523 equity shares of Rs 10 each at a price of Rs
19,300 per equity share in November
Some of the top investors, who have invested in excess of Rs 20 crore, include Aberdeen Global, New World Fund Inc, Aditya Birla Sunlife,
APM Kotak India Master Fund, Avendus Absolute Return Fund, American Funds Insurance, AXIS Mutual Fund and Multicap Fund, East Spring
Investments India Infrastructure, Fidelity Investments, HSBC China, among others.
The company has also declared an interim dividend of Rs
110 per equity share of Rs 10 each for FY'20, which include Rs 70 per equity share as normal dividend and Rs 40 per equity share as