Shree Cements today reported a 46.39 per cent dip in its standalone net profit at Rs 119.73 crore for the third quarter ended March 31, 2015, owing to decline in sales.
The company's net profit stood at Rs 222.51 crore in the year-ago period, it said in a filing to the BSE.
The total turnover of the company dropped 5.31 per cent at Rs 1,576.40 crore during the quarter under review. The company had reported a turnover of Rs 1,664.92 crore in the year-ago period.
Cost of raw materials were up during the quarter at Rs 138.32 crore as against a Rs 119.46 crore in the same quarter of the previous fiscal.
The company recently acquired a cement grinding unit of Jaiprakash Associates for Rs 358.22 crore which will take up its capacity to 19 mtpa from the current 17.5 mtpa.
The company sells cement under the brand name of Shree Ultra and Bangur.
Shares of Shree Cement Ltd were trading at Rs 10,324 a piece in the afternoon trade on BSE, up 0.79 per cent from its previous close.
