Shree Cement’s quarterly profit down due to input costs

Shree Cement’s quarterly profit down due to input costs
31/07/2018 , by , in ALLIED

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.

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