Skip to main content

Shree Cement reports profit drop despite income gain

Published by , Editor
World Cement,


Shree Cement has reported its results for the December quarter, which show a drop in net profit of 18.9% at Rs.936.80 crore due to higher expenses on depreciation and inputs. Income rose 17.2% to Rs.1544.50 crore, up from Rs.1318.13 crore in the same period of the previous year. The cement business contributed Rs.1351.64 crore of this.

Expenses for the company, which has interests in power as well as cement, rose to Rs.1439.36 crore, up from Rs.1163.16 in the previous year. Depreciation and amortisation costs were also up at Rs.200.94 from Rs.115.57 crore. Expenditure on raw materials rose to Rs.141.04 crore from Rs.115.34 crore; power and fuel costs went from Rs.312.05 crore to Rs.395.38 crore; freight costs also rose to Rs.325.67 crore from Rs.280.94 crore. However, operating profit increased by 12.9% y/y and the company earned tax credits of Rs.1.5 crore against expenses of Rs.15.3 crore in the same quarter of 2013.

Shree Cement is in the process of acquiring a 1.5 million tpy cement grinding unit from Jaiprakash Associates.


Edited from various sources by

Sources:

Read the article online at: https://www.worldcement.com/asia-pacific-rim/03022015/shree-cement-reports-profit-drop-despite-income-gain-261/

You might also like

World Cement podcast

The World Cement Podcast

In this special joint episode of the World Cement Podcast, and Cementing Europe’s future, the podcast of CEMBUREAU, David Bizley and Koen Coppenholle take a deep dive into the Clean Industrial Deal and a discussion of what it means for the European cement industry.

Listen for free today at www.worldcement.com/podcasts or subscribe and review on your favourite podcast app.

Apple Podcasts  Spotify Podcasts  YouTube

 

Carbon Upcycling closes US$18M investment led by Builders Vision

Carbon Upcycling Technologies have announced the closing of its US$18 million investment round led by Builders Vision, a team of investors and philanthropists accelerating tomorrow's most promising solutions across agriculture, food, and oceans.

 
 

Embed article link: (copy the HTML code below):