Shree Cement’s March quarter profit fell
Shree Cement witnessed a 16 per cent fall in its standalone fourth quarter net profit, which stood at Rs 645 crore in the March quarter of 2021-22. The company had recorded a profit of Rs 768 crore during the year-ago period.
The downward slide in profit was due to an increase in power and fuel costs, along with the high base of last year’s quarter.
On sequential basis though, the cement manufacturer’s profit rose by 31 per cent from Rs 492 crore registered in the December quarter period of 2021-22.
The company’s standalone revenues during the March quarter went up by 3.6 percent to Rs 4,099 crore as compared to a revenue of Rs 3,958 crore registered in the corresponding year’s quarter, according to an exchange filing.