Shree Cement Q1 net profit falls 55.8 pc to Rs 278.86 cr

Shree Cement Ltd on Thursday reported a decline of 55.8 percent in its consolidated net profit to Rs 278.86 crore for the first quarter that ended June 30.

The company had posted a net profit of Rs 630.89 crore in the April-June period a year ago, Shree Cement said in a BSE filing.

However, its revenue from operations increased 21.45 percent to Rs 4,414.85 crore during the quarter under review against Rs 3,634.83 crore in the corresponding period of the preceding fiscal.

Its total expenses rose 36.71 percent to Rs 4,019.11 crore in Q1 FY23 from Rs 2,939.88 crore.

Shree Cement is the third largest cement-making firm, owning brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement, and Rock strong. Shares of Shree Cement Ltd were trading at Rs 20,150 on BSE on Thursday, down 4.14 percent from the previous close.