Shree Cement Q1 net dips 48% to Rs 55 cr

New Delhi : Shree Cement today reported over 48% dip in its first quarter net profit at Rs 55 crore, mainly on account of higher power and freight costs. The company, which predominatly market its product in the Northern part of the country, had reported Rs 106 crore net profit in the April-June quarter of last fiscal, it said in a statement.

Net sales of the company during the quarter under review, however, grew to Rs 1,034 crore as compared to Rs 945 crore in the corresponding quarter last fiscal, it said in a statement.