Orient Cement Q4 results: Net profit decreased by 29% to Rs 44 crore for FY20
Orient Cement Q4 results: It is part of the Orient Paper & Industries, later it was demerged in the year 2012. However, it is one of the largest and fastest-growing cement manufacturers in India Located in Hyderabad. The manufactures Pozzolana Portland Cement (PPC) and Ordinary Portland Cement (OPC) under the name of Birla A1 premium cement and Birla A1 StrongCrete in India.
Meanwhile, on Friday, May 22, the company reported its Q4 results for the Financial Year 2020 ended on March 31st. The company’s consolidated net profit decreased by almost 29% to Rs 44.06 crores in this quarter ended in March. The company also posted its standalone net profit of Rs 61.98 crores in the same quarter last financial year.
Besides, the company’s total income from operations decreased by 12.82% to Rs 654.52 crores YoY. The company also posted its revenue of Rs 750.81 crores in the same quarter last year. The companies expenditure decreased by 10.42% to Rs 599.22 crores as against Rs 661.11 crores in the same period last year.
In the financial year 2019-20, the companies net profit increased by 82.08% to Rs 86.58 crores as against Rs 47.55 crores in the same quarter last year. The revenue of the company decreased by 3.97% to Rs 2,421.79 crores as against Rs 2,522.16 crores in the same quarter last year.
Besides, the company board members recommended its final interim dividend to Rs 0.75 per equity share of Rs 1 each for the FY20 ended on March 31st.
The company operations impacted due to the COVID-19 pandemic in the month of March 2020. The government announced a temporary shutdown of all manufacturing plants due to nationwide lockdown. The management is monitoring the situation closely and has started operating its plants in a phased manner from the last week of April, Orient Cement said.
On Friday, May 22, the shares of Orient Cement Ltd reported a bearish trend in the stock market after its Q4 results. The company lost 0.20 points with a 0.50% decrease and reached 39.75 INR. While in BSE, the company lost 0.050 points with a 0.13% decrease and reached 39.85 INR.
Stock Market on May 22:
On Friday, both Sensex and Nifty reported a bearish trend in the stock market after bullish reports in the last two sessions. The Sensex is trading below 30,700 levels, and Nifty is trading above 9,100 levels in the stock market. The Sensex lost 260.31 points with a 0.84% decrease and reached a 30,672.59 level. While Nifty lost 67.00 points with a 0.74% decrease and reached 9,039.25 level.
On the other side, the number of coronavirus cases in India reached 1,25,101 as of Saturday, May 23, and deaths reached 3,720.
In the border market, the S&P BSE Smallcap index reported a bearish trend in the stock market on Friday. It lost 23.90 points with a 0.23% decrease and reached a 10,524.23 level. The S&P BSE Midcap index lost 93.82 points with a 0.83% decrease and reached an 11,270.02 level. While Nifty Bank lost 456.20 with a 2.57% decrease and reached a 17,278.90 level.
Top Gainers on May 22: Zee Entertainment, M&M, Cipla, Shree Cements, and Infosys are the top gainers in today’s stock market
Top Losers on May 22: Axis Bank, HDFC Bank, Bajaj Finserv, Bajaj Finance, and ICICI bank are the top losers in today’s stock market.