Shree Cement expects fourth quarter net drop

Shree Cement expects fourth quarter net drop
Published: 19 March 2010

India’s Shree Cement Ltd expects its fourth-quarter net profit to be 10%-15% lower than a year earlier because of higher fuel costs that hurt margins, its chairman said Friday.

"Profits will be lower, because of all the cost increases that have not been passed on to the customer," HM Bangur, who is also its managing director, told Dow Jones Newswires over the phone.

Shree Cement had posted a net profit of INR2.36bn in the fourth quarter of the last financial year ended March 31.