Shree Cement reports 31% increase in net profit
India’s Shree Cement has reported a 31.1 per cent YoY rise in standalone net profit for the quarter ending 31 March 2018, increasing to INR3.99bn (US$60.14m) from INR3.04bn. Net revenue surged 18.1 per cent to INR28.11bn, compared to INR23.80bn of the year-ago period.
The cement sector helped boost the revenue, with a six per cent uptick in cement sold. This has been attributed to an increased demand in the northern and central regions of the country. However, fuel and power costs increased by 34 per cent YoY, while freight costs rose 27 per cent.