Orient Cement sees 3Q profit fall by 19% YoY

CK Birla-owned Orient Cement reported an 18.9 per cent decline in net profit to INR436.7m (US$5.84m) for the third quarter, ended 31 December 2021. In the equivalent quarter of 2020, the company had posted a net profit of INR538.8m, said the company in a filing to the Bombay Stock Exchange (BSE).

Orient Cement’s revenue in the 3QFY21-22 edged up 2.1 per cent to INR6.175bn, compared with INR6.046bn in 3QFY20-21.

Total expenses increased by 4.6 per cent to INR5.526bn in the 3QFY21-22 from INR5.282bn in the year-ago period.