Orient Cement posted a 7.5% (YoY) drop in revenue from operations at Rs.477 crore. A 20% drop in total operating expenses helped boost the profit.
Operating profit jumped up over 350% to Rs.78 crore.
Net profit came in at Rs.35 crore v/s loss of Rs.8 crore. Sequentially, it rose 35%.
For H1FY21, net profit came in at Rs.60 crore and that is already 70% of entire FY20 net profit of Rs.86 crore and with the outlook for the sector expected to be good in the coming months, looks like FY21 will end on a bumper note.
The stock is in the green, going up over 4.5% to Rs.69.30. Its 20% UC of the day is at Rs.79.50 and 52-week high is at Rs.89.70.