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HomeNewsFinancial/Policy NewsOrient Cement's net profit dips 37% in Q3 FY23

Orient Cement’s net profit dips 37% in Q3 FY23

Orient Cement's total income stood at Rs 733.42 crore in Q3 FY23, a growth of 18.29 per cent from Rs 620 crore it recorded in the similar quarter last year.

Orient Cement has reported a dip of 37 per cent in its net profit during the quarter ended December 31, 2022. Its profit after tax (PAT) stood at Rs 27.51 crore in Q3 FY23 as against Rs 43.67 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s total income stood at Rs 733.42 crore in Q3 FY23, a growth of 18.29 per cent from Rs 620 crore it recorded in the similar quarter last year.

The board of directors approved the payment of interim dividend of Rs 0.50 (50%) per equity share of face value of Re. 1 each for the financial year 2022-23.

The board also approved appointment of Prakash Chand Jain, finance controller of the company as the chief financial officer (CFO) with effect from January 31, 2023. Jain, will continue as CFO for the intermittent period till the appointment of the new incumbent in the Company so as to ensure seamless transition and adherence to the regulatory compliances.

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