Shree Cement’s quarterly profit down due to input costs
Shree Cement’s profit fell in the quarter that ended on 30 June 2018 due to higher power, fuel and logistic costs.
Its profit dropped by 36% year-on-year to US$40.7m from US$64.1m in the same period in 2017. However, its income rose by 5.4% year-on-year to US$461m.
During the reporting quarter the cement producer commissioned a cement grinding mill at its Kodla cement plant in Karnataka, it purchased a railway terminal at Hathbandh in Chhattisgarh and it acquired a majority stake in Union Cement in the UAE.