Shree Cement sees jump in third-quarter net profit, India

India-based producer Shree Cement reported a 267 per cent rise in net profit to INR2174.4m (US$40.4m) for the third quarter of FY12-13 compared to INR591.9m in the same period of last year.

Total income increased by 20.46 per cent to INR14.60bn for the quarter ended 31 December 2012 from INR12.12bn for the same period the year before.

Net sales increased by 19.5 per cent INR14.28bn for 3QFY12-13 compared to INR11.95bn in 3QFY11-12.

Shree Cement has a cement production capacity of 13.4Mta comprising three integrated plants and three grinding facilities all in the northwestern  state of Rajasthan. With plans to lift these volumes further, it has already undertaken work on two new 2Mta clinker units each at Ras in Rajasthan. A new grinding plant in the state of Bihar and an integrated facility in the state of Chattisgarh have also under consideration with pre-project planning reaching the final stages of completion.