Shree Cements reports 13.3% fall in Q1 net profit at Rs. 440.11 crore

Shree Cements reports 13.3% fall in Q1 net profit at Rs. 440.11 crore
01/08/2017 , by , in ALLIED

Shree Cements reported 13.30 per cent fall in standalone net profit at Rs 440.11 crore for first quarter ended June 30 as against Rs 507.67 crore during the same quarter of previous fiscal, Shree Cement said in a BSE filing.

However, total income during the quarter under review rose by 16.74 per cent to Rs 2,995.23 crore. The company reported total income of Rs 2,565.70 crore during the April – June quarter in 2016-17.

Total expenses during the period surged 27.62 per cent and stood at Rs 2,448.63 crore.

Revenue from the cement business grew 22.42 per cent to Rs 2,768.79 crore from Rs 2,261.65 crore in the same period previous fiscal. However, according to the company, revenue from the power business declined 11.28 per cent to Rs 355.67 crore as against Rs 400.93 crore in the year-ago period.

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