Shree Cement: 3Q sales up 35 per cent

Shree Cement: 3Q sales up 35 per cent
Published: 21 January 2010

India’s Shree Cement Ltd Thursday posted a 35% rise in its fiscal third-quarter, and said that the growth was helped by higher cement prices and lower fuel costs.

The cement manufacturer reported a net profit of INR1.67bn during the October-December quarter, up from INR1.24bn a year earlier.

Net sales rose 30% to INR8.66bn in the quarter, compared with INR6.64bn in the year-earlier period, Shree Cement said in a statement.

"The cement price realisations were up 5% during the quarter over the corresponding quarter of last year," the statement said.

"A fall in fuel prices during the current (third) quarter compared to corresponding quarter of last year also helped the company improve its operating profit," it added.