Orient Cement on a high

Orient Cement yesterday after market hours, reported a two-fold jump in net profit at Rs.100 crore for Q4FY21 v/s Rs.44 crore (YoY). Obviously, it is the lower base effect at play too.

Revenue from operations rose 27% at Rs.832 crore.

Better cost controls, lower interest outgo, better volumes and realisations is what helped this performance.

The company also recommended a final dividend of 150% or Rs. 1.50 per equity share of Re.1 each for the year ended March 31, 2021.

The market celebrated the performance with a 10% rise, going on to hit a new 52-week high at Rs.133.70. Volumes have more than doubled on the counter.