Shree Cement YoY profit hit by fuel expenses

Shree Cement Ltd has reported total income of INR42,300.2m (US$513m) in the quarter ended 31 December 2022. This compares to INR39,374.9m in the previous quarter and INR36,618.9m in the same quarter a year earlier. Profit over the December 2022 quarter came in at INR2767.7m, up from INR1896m in the previous quarter but down from the INR4919.9m reported in the December 2021 quarter.

Power and fuel expenses advanced from INR8078.m in the quarter ended 31 December 2021 to INR13,027.4m in the same period a year later. Basic and diluted earnings per share (EPS) over the same timeframe has declined from INR136.36 to INR76.70. 

In the nine months ended 31 December 2022, total income stood at INR123,486.2m, up from INR106,063.7m in the same quarter in 2021, while profit has declined from INR17,314.1m to INR7819.2m. Basic EPS over the same timeframe contracted from INR479.87 to INR216.71, while power and fuel expenses rose from INR20,886.1m to INR39,720.8m.