Shree Cement records 37% net profit increase

India’s Shree Cement has reported a six per cent YoY increase in consolidated revenue for the quarter ending 30 June, rising to INR33.54bn (US$470.4m) from INR31.63bn. Net profit surged 36.8 per cent to INR3.82bn from INR2.79bn.

The cement segment saw an 8.5 per cent rise in revenue to INR31.15bn, compared with INR28.69bn in the year-ago period. While cement sales volumes contracted 13 per cent to 6.1Mt, this was offset by higher prices.

Standalone revenue recorded a modest decline of 2.4 per cent YoY to INR30.87bn, while net profit advanced 29.9 per cent to INR3.63bn from INR2.79bn.