Shree Cement Q2 Profit Plunges 83% to Rs 77 cr | News

New Delhi, Nov 11 (PTI) Bangur family-promoted Shree Cement Ltd on Monday reported 82.83 per cent decline in consolidated net profit at Rs 76.64 crore for September quarter FY25 as it faced challenging demand conditions on account of prolonged monsoon and lower price in the segment.

The company had logged a net profit of Rs 446.62 crore in the July-September period a year ago, according to a regulatory filing from Shree Cement Ltd (SCL).

Revenue from operations was down 15.07 per cent year-on-year to Rs 4,054.17 crore during the quarter.

Like other cement makers, SCL also faced "challenging demand conditions on account of prolonged monsoon and softer prices faced by the industry," the company said in its earning statement.

EBITDA stood at Rs 593 crore against Rs 870 crore in the corresponding quarter of the previous year.

Total expense was at Rs 4,212.27 crore, down 3.52 per cent from the year-ago period. Total sale volumes came down by 7 per cent to 7.60 million tonne as against 8.20 million tonne.

Total income, which includes other income, was also down 13.65 per cent to Rs 4,235.55 crore in the September quarter.

"Despite strong headwinds on account of extended monsoon and softer pricing environment across the industry, Shree Cement has delivered a steady performance on the back of accelerated operational efficiency measures, focused cost optimisation drive and product premiumisation initiatives,” Managing Director Neeraj Akhoury said.

Over the outlook, he said SCL expects gradual improvement in demand driven by increased government spending in the second half of the financial year and improved demand from urban and rural segments owing to good monsoon.

"Shree Cement remains focused on its long-term growth and sustainability, with ongoing investments in capacity expansion and the adoption of greener technologies,” he said.

Shares of SCL on Monday settled at Rs 24,389.75 apiece on BSE, down 0.66 per cent from the previous close.