Shree Cement turnover increases by 30%
Shree Cement Ltd has reported good results for the quarter ended 31st December 2009. Turnover for the quarter has increased by 30% to Rs. 866 crores against Rs. 664 crores during the corresponding quarter of previous year. Operating profit for the quarter increased 49% to Rs. 351 crores from Rs. 235 crores. Net profit during the quarter jumped 35% to Rs. 167 crores against Rs. 124 crores in the corresponding quarter of previous year. The cement price realizations were up 5% during the quarter over corresponding quarter of last year. However, prices dipped about 7% when compared to July – Sept 09 quarter. Fall in fuel prices during the current quarter compared to corresponding quarter of last year also helped Company improve its operating profit.
Company’s new projects to expand cement and power generation capacities are running as per schedule and progressing satisfactorily. During the quarter, all India cement demand grew at 11% whereas growth in North India was 9%. As against this, Company’s sales volume grew by 22% during the quarter.
During the Quarter, the Company was awarded BS-EN 16001 certificate by BSI, London the global standards, certification and assessment provider. This certification is the World’s first process plant certification having European energy management standard in India. European energy management standard is a key standard for any organization wishing to tackle greenhouse gas emissions and reduce costs.