Shree Cement Q4 net profit surges 87% to Rs 223 crore

Shree Cement Q4 net profit surges 87% to Rs 223 crore
27/05/2016 , by , in ALLIED

Shree Cement has reported a 87 per cent jump in standalone net profit to Rs 223.34 crore for the quarter ended March.

The firm had clocked a net profit of Rs 119.76 crore in the January-March period of 2014-15 fiscal, it said in a regulatory filing.

Total standalone income of the firm rose 28 per cent to Rs 2,017.42 crore in the same quarter of 2015-16 fiscal as against Rs 1,578.40 crore in the year-ago period.

“Total expenses of the firm were higher at Rs 1,846.16 crore during the quarter under review compared with Rs 1,498.76 crore in the same period a year ago,” reported by PTI.

Besides, the company said it will set up a clinker plant with 2.8 million tonnes per annum (MTPA) capacity at its integrated cement plant in Raipur, Chhattisgarh.

The investment required for the capacity addition at the 2.6 MTPA cement plant is about Rs 700 crore, which excludes the cost of land and other infrastructure, it added.

It will finance the amount through internal accruals and the exercise will be completed by March 2018, Shree Cement said.

For the entire 2015-16 fiscal, the firm’s standalone net profit rose to 454.93 crore as against Rs 426.33 crore in the preceding fiscal.

Total income was, however, lower at Rs 5,567.75 crore in the reported fiscal compared with Rs 6,453.57 crore in the 2014-15 fiscal.

Shree Cements shares today closed 1.88 per cent down at Rs 12,920 apiece on BSE.

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