India: Shree Cements reports 10% rise in quarterly net profit

Shree Cements reported a 10 per cent rise in standalone net profit at INR10.286bn (US$0.151m) for the quarter ended 31 December 2015 compared to a profit of INR9.368bn a year earlier, it said in a Bombay Stock Exchange filing.

Income rose by 18 per cent to INR18.288bn in the October-December quarter versus INR154.45bn during the same quarter last fiscal. Total expenses, however rose by 19 per cent to INR170.71bn.

Capacity expansion
In a separate filing, Shree Cement said it will expand capacity of its grinding unit in Aurangabad, Bihar from the existing 2.2Mta to 3.6Mta by the end of the April-June quarter this year.

It is also expanding its integrated cement plant in Gulbarga (Karnataka) to lift clinker and cement capacity to 2.4Mta and 4Mta, respectively.