Shree Cement FY07 net down

Shree Cement FY07 net down
Published: 15 May 2007

Shree Cement Ltd has reported a net profit of Rs 177 crore for the financial year to March 31, 2007 compared with Rs 18.4 crore during the previous fiscal.

Operating profit for the year zoomed 181% to Rs 632.87 crore as against Rs 225.18 crore in the corresponding period in 2005-06. The turnover was Rs 1,367.98 crore as against Rs 669.39 crore during the year-ago period.

The net profit for the year was impacted owing to additional depreciation of Rs 199.47 crore on account of change in its accounting policy for depreciation on plant and machinery and a provision of depreciation of Rs.114.58 crore.

Basic earnings per share (EPS) stood at Rs 50.81 as against Rs 5.28 during the year-ago period.