Shree Cement's Q1 net profit down 51.3% to Rs 278.45 crore

New Delhi: Bangur family promoted Shree Cement Ltd on Tuesday reported a decline of 51.31 per cent in its consolidated net profit to Rs 278.45 crore for the first quarter ended June 2024.

The company had posted a net profit of Rs 571.94 crore in the April-June period a year ago, according to a regulatory filing from Shree Cement Ltd (SCL).

However, its revenue from operations was up 1.73 per cent to Rs 5,123.96 crore during the quarter under review, as against Rs 5,036.65 crore in the corresponding period of the preceding fiscal.

Total expenses of SCL increased 10.05 per cent to Rs 4,957.24 crore in the June quarter.

SCL's total income rose 1.12 per cent to Rs 5,263.09 crore in the June quarter.

Shree Cement is the third largest cement-making firm, owning brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong.

Shares of Shree Cement Ltd on Tuesday were trading at Rs 519.60 apiece on BSE, up 1.82 per cent from the previous close.