on Wednesday reported a 44% year-on-year (YoY) decline in its standalone revenue after tax to Rs 277 crore for the quarter ended December 31, 2022. The corporate had reported a internet revenue of Rs 492 crore in the identical quarter of the earlier fiscal yr.

Nonetheless, its income from operation grew 15% YoY at Rs 4,069 crore through the October-December 2022 interval in comparison with Rs 3,552 crore within the year-ago interval.

Its Earnings Earlier than Curiosity, Taxes, Depreciation and Amortization (EBITDA) fell 7% YoY to Rs 869 crore in Q3FY23 in comparison with Rs 936 crore in the identical quarter of the earlier yr.

The board of administrators of the corporate declared an interim dividend of Rs 45 per share (450%) for the yr 2022-23. Within the earlier yr 2021-22, the board declared an interim dividend of Rs 45 per share. The overall dividend for the yr 2021-22 was Rs 90/- per share.

Throughout the quarter, the share of inexperienced energy consumption in whole energy consumption stood at 53% towards 47% within the corresponding quarter of the earlier yr. The Firm has accomplished 84 MW of solar energy crops in several states through the present monetary yr. One other 44 MW of inexperienced energy capability is predicted to be accomplished earlier than the completion of FY 2022-23.

The corporate is engaged on organising extra such crops with an goal to extend the share of inexperienced power in whole power consumption to 55% within the subsequent 2 years, Shree Cement mentioned in a launch.

“Given the federal government’s deal with infrastructure development within the Union Finances 2023-24 via greater allocation for street building initiatives, Pradhan Mantri Awas Yojana (PMAY), ever highest capital funding outlay, and so forth and different total buoyancy within the economic system, the cement sector is poised for strong development in coming years. Nonetheless, rising enter prices led by greater gasoline costs could affect the margins,” the corporate mentioned.The corporate has been actively engaged on reaching its objective of getting 80 million tonnes capability by yr 2030.

On this entrance, work on organising of clinker grinding unit of three.0 million tonnes capability at Purulia (West Bengal), setting-up of built-in cement unit of upto 3.50 million tonnes capability at Nawalgarh (Rajasthan), and setting- up of built-in cement unit of three.0 million tonnes capability in Guntur (Andhra Pradesh), are nearing completion. Following the Q3 outcomes, Shree Cement inventory fell 1% to Rs 24,031 on BSE.