Shree Cement Reports 51.31% Decline in Q1 Net Profit

Shree Cement Ltd, promoted by the Bangur family, reported a significant downturn of 51.31% in its consolidated net profit, amounting to Rs 278.45 crore for the first quarter ended June 2024. Despite this, the company's revenue from operations rose slightly by 1.73%. Total expenses saw a 10.05% surge.

Bangur family-promoted Shree Cement Ltd reported a substantial 51.31% decrease in its consolidated net profit for the first quarter ending June 2024, down to Rs 278.45 crore from Rs 571.94 crore a year earlier.

Despite the decline in profits, Shree Cement saw its revenue from operations increase by 1.73% to Rs 5,123.96 crore, compared to Rs 5,036.65 crore in the same quarter last year.

The company faced a 10.05% rise in total expenses, which reached Rs 4,957.24 crore during the quarter. Meanwhile, the total income of Shree Cement grew by 1.12%, amounting to Rs 5,263.09 crore. Trading at Rs 519.60 apiece on BSE, shares of Shree Cement were up 1.82% from the previous close.