Fall in quarterly earnings for Shree Cement

Indian cement manufacturer Shree Cement has reported a fall in profit for the second quarter of the current fiscal year due to lower income.

Results for 2Q14

• Net profit decreased by 47% y/y from Rs.217.44 crore (Rs.62.42 per share) in 2Q13 to Rs.115.49 crore (Rs.33.15 per share) in 2Q14.
• Total net income from operations stood at Rs.1318.13 crore in 2Q14, a 6% fall y/y from Rs.1401.23 crore in 2Q13.
• Other income decreased from Rs.30.2 crore in 2Q13 to Rs.9.9 crore in 2Q14.

Results for 1H14

• Net profit saw a 35% fall in 1H14 to Rs.287.71 crore, compared to Rs.445.57 crore in 2Q13.
• Total net income from operations declined by 5% from Rs.2698.39 crore in 1H13 to Rs.2565.67 crore in 1H14.
• Other income totalled Rs.83.85 crore in 1H14, compared with Rs.62.24 crore in 1H13.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/asia-pacific-rim/27012014/fall_in_quarterly_earnings_for_shree_cement_651/