- BSE Sensex retreats from over 21,000-pt high, TCS, Wipro shares dragIndian rupee gains for 2nd day, tails equity market movesBSE Sensex drops 42 pts to over week's low ahead of RBI policy review meetBSE Sensex target: Deutsche outlook puts index at record 22,000, top picks Axis Bank, Bharti Airtel shares
Shree Cements today reported a 24.5 per cent dip in net profit for the July-September quarter at Rs 172.22 crore on higher freight and "other" expenses.
The company, which has 13.5 million tonnes per annum (mtpa) cement production and 560 MW power generation capacity, had clocked Rs 228.13 crore net profit in the same quarter last fiscal, it said in a BSE statement.
Total income of the company during the quarter fell to Rs 1,247.54 crore as compared to Rs 1,297.16 crore in the year-ago period.
Revenue from both cement and power businesses of the company dropped during the quarter.
On the other hand, expenses during the period went up to Rs 1,112 crore from Rs 1,000 crore in July-September quarter of last year. This is mainly because of higher freight and "other" expenses.
Freight costs of the company went up to Rs 249.32 crore for the quarter from Rs 212.98 crore in the year-ago period. Other expenses during the period went up to Rs 247.37 crore from Rs 201.25 crore.