Shree cement Q2 net up
Shree Cement reported a 19 per cent growth in its standalone net profit at Rs 292 crore for the quarter ended September 30.
Total standalone income of the company rose by 18 per cent to Rs 2,254 crore in July-September quarter this fiscal from Rs 1,915 crore during the same period in 2015-16.
The firm announced that it will invest around Rs 652 crore on capacity expansion.
Shree Cement said it will set up a grinding unit in Sriganganagar district of Rajasthan with a capacity of 3.6 million tonnes per annum (MTPA) with an initial plan to set up a blending unit.
The expansion will cost about Rs 300 crore, which will come from internal accruals. The project is expected to be completed by April-June 2017-18, it added.