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Shree Cement today reported a 13.3 per cent decline in standalone net profit at Rs 440.11 crore for first quarter ended June 30, on account of higher expenses.
The company had posted a net profit of Rs 507.67 crore during the April-June quarter of the previous fiscal, Shree Cement said in a BSE filing.
However, total income during the quarter under review rose by 16.74 per cent to Rs 2,995.23 crore as against Rs 2,565.70 crore during the same quarter in 2016-17.
Total expenses during the period stood at Rs 2,448.63 crore, up 27.62 per cent from the year-ago period.
Revenue from the cement business grew 22.42 per cent to Rs 2,768.79 crore from Rs 2,261.65 crore in the same period of the previous fiscal.
However, revenue from the power business declined 11.28 per cent to Rs 355.67 crore as against Rs 400.93 crore in the year-ago period.
The stock was trading 3.82 per cent up at Rs 18,148 on BSE.
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