Orient Cement Q1 Results: Profit slides to ₹37.03 crore, revenue jumps YoY

CK Birla Group-led Orient Cement on 1 August released the results for Q1 FY2023-24 on 1 August and its profit slid to ₹37.03 crore compared to ₹37.4.2 crore a year ago.

The firm had reported a profit of ₹67.37 crore in the previous quarter, it said in a regulatory filing on Tuesday.

Though the revenue jumped to ₹829.6 crore in Q1FY23, compared to ₹715.14 crore on a YoY basis. While in QoQ basis, the net revenue declined, as in the previous quarter it was ₹880.88 crore.

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The firm also declared a final dividend of ₹1 (100%) per equity share of face value of ₹1 each for the financial year ended March 31, 2023. Also, it confirmed the interim dividend of ₹0.50 (50%) per equity share, paid during the financial year 2022-23.

“Ordinary Resolution for declaration of final dividend of Re. 1/- (100%) per equity share of face value of Re. 1/- each for the financial year ended March 31, 2023, and confirmation of the interim dividend of Rs. 0.50/- (50%) per equity share, paid during the financial year 2022-23,” the firm said. 

The board also passed an ordinary resolution appointment of a Director in place of Chandrakant Birla, who retires by rotation and being eligible, offers himself for re-appointment.

On Tuesday, Orient Cement share price ended 2.18% down to ₹143.85 apiece on the BSE.