Shree Cement net down 5% at Rs 110.9 cr

Shree Cement net down 5% at Rs 110.9 cr

During the quarter, the company's power & fuel bill nearly doubled from Rs 82.32 crore to Rs 151.49 crore on a year-on-year(y-o-y) basis. The employee cost went up 63 per cent to Rs 25.09 crore, together with a 32 per cent rise in freight costs and an additional expense of Rs 16 crore on freight on inter-unit clinker transfer. The company beared depreciation costs of Rs 46.05 crore during the quarter, up 28 per cent from the corresponding quarter previous year.

The consolidated net profit for FY08 clocked a 47 per cent growth to Rs 260.37 crore, while the company's turnover grew by 51 per cent to Rs 2,066 crore.

The company has decided to set up another clinker production unit at Ras and a split grinding unit at Suratgarh, said B G Bangur, chairman, Shree Cement.