30 Oct , 2021 By : Kanchan Joshi
MUMBAI: Shree Cement on Friday reported a 5.6 per cent year-on-year (YoY) increase in net profit to Rs 577.7 crore for the quarter ended September, which was above analysts’ estimate.
The company’s revenue from operations climbed 5 per cent on-year to Rs 3,205.9 crore for the reported quarter, which was largely in line with Street expectations.
During the quarter, the company managed to keep its profit before tax largely unchanged at Rs 742 crore despite higher fuel and power costs. Fuel and power costs jumped 29 per cent year-on-year to Rs 628.3 crore.
At the same time, the company’s cost of raw materials rose to Rs 215.7 crore in the quarter as against Rs 201.1 crore a year-ago. Shree Cement’s also saw a sharp spike of 17 per cent on-year in employee costs to Rs 202.6 crore during the quarter.
Shares of the company ended 1.4 per cent higher at Rs 28,600 on the National Stock Exchange.
0 Comment