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Shree Cement’s net profits fell in June quarter

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World Cement,

Shree Cement has reported a decline in net profit for the June quarter, at Rs.104.11 crore from Rs.277.02 crore in the June quarter last year. Sales were up 4.12% at Rs.1719.43, but expenses also increased, coming in 17.08% higher than in the June 2014 quarter and totalling Rs.1606.07 crore.

In the year to the end of June the company’s consolidated net profit fell 45.8% to Rs.426 crore, while sales rose 9.60% to Rs.6439.88 crore.

Shree Cement has recently completed the acquisition of a 1.5 million tpy cement grinding unit from Jaiprakash Associates for Rs.358.22 crore.

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