Shree Cement profit falls 15% YoY to Rs 263 crore on higher fuel costs
Shree Cements September-quarter net profit fell over 15% year-on-year to Rs 263 crore for the third consecutive quarterly decline. Revenue rose 24% and sales volumes increased 14%, but soaring fuel costs pressured profitability despite stronger premium product sales.
Shree Cement’s consolidated net profit fell more than 15% year-on-year to Rs 263 crore in the September quarter, weighed down by higher fuel costs despite growth in sales volumes. This was the third consecutive quarter in which the company reported a year-on-year decline in consolidated profit.The country’s third-largest cement producer by capacity recorded a 14% year-on-year increase in sales volume to 10.52 million tonnes during the quarter, while revenue from operations rose 24% to Rs 5,897 crore.Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) rose to Rs 1,016 crore from Rs 974 crore a year earlier.
