Shree Cement Jan-Mar quarter net profit down 19% to Rs 222 cr

Shree Cement today reported a 19% dip in net profit for the January-March quarter at Rs 222.50 crore despite higher sales.

The company, which has over 13 million tonnes per annum (mtpa) capacity, had clocked Rs 274.09 crore net profit in the corresponding quarter of FY 13, it said in a BSE filing.

Total income grew to Rs 1,665 crore from Rs 1,443 crore on higher revenue from the cement segment.

Power business' revenue tripped to Rs 339 crore from Rs 428 crore a year earlier, it said.

Total expenses also rose to Rs 1,401 crore during the quarter from Rs 1,149 crore during the same period a year earlier mainly on higher power and fuel costs and freight expenses.

Finance costs dipped a little, but a Rs 73.73 crore outgo on exceptional items affected the bottomline.