Shree Cement Q1 net profit down 52.31% at Rs 315.55 cr
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The company reported standalone net profit of Rs 315.55 crore for the quarter ended June 30, 2022 as compared to Rs 661.72 crore in the same period last year, registering a year-on-year decline of 52.31 per cent. Net revenue of the company rose substantially by 21.84 per cent at Rs 4,202.69 crore in April-June quarter of this fiscal as against Rs 3,449.49 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 38.91 per cent to Rs 3,383.87 crore from Rs 2,435.98 crore in year ago period. Other Income dipped by 115.51 per cent at Rs -21.58 crore versus (Jun'21 Rs 139.17 crore). Operating Profit slipped by 19.21 per cent to Rs 818.82 crore as against Rs 1,013.51 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 33.70 per cent in June quarter. Interest grew by 7.12 per cent y-o-y to Rs 57.33 crore, while Taxation decreased by 52.95 per cent at Rs 96.42 crore (Jun'21 Rs 204.94 crore).
