Mr. Cement released the third quarter results ended in December 2024, in which the company faced heavy losses. The company’s consolidated net profit fell 72.5% to ₹ 193 crore, which was quite high in the same quarter last year. The company’s total income declined by 12% to ₹ 4,573 crore. This was due to weakness in weak cement prices and construction activities, which is usually in this season.
Weak cement market impact
Last year, cement prices have seen a decline. In the December quarter, prices fell 11% annually, causing damage to small players. However, during this period, companies like UltraTech and Adani Group were better than their acquisitions and performed well. At the same time, small companies like Dalmia India and Orient Cement came under low prices.
Announcement of interim dividend
The Board of Shri Cement has declared an interim dividend of ₹ 50 on each share with ₹ 10 face value for FY 2024-25. This will benefit those investors who will have the company shares by February 5, 2025. Dividend payment will start from February 17, 2025.