Shree Cement records 64% increase in profit

India’s Shree Cement has seen a 64 per cent YoY increase in consolidated net profit to INR5.23bn (US$70.71m) for the quarter ending 30 September 2020, compared with INR3.13bn in the corresponding period of last year.

Revenue from operations advanced eight per cent to INR32.5bn from INR30.04bn in the 2QFY19-20. The company’s EBITDA also rose 17 per cent YoY to INR9.9bn.

In the first half of FY20-21, revenue from operations declined 9.1 per cent YoY to INR57.3bn from INR63.07bn. Consolidated net profit surged 23.4 per cent to INR8.58bn from INR6.96bn in the 1HFY19-20.