Shree Cement sees 14% fall in net profit

India’s Shree Cement has seen a 13.5 per cent YoY fall in net profit to INR3.3bn (US$44.17m) for the June quarter of FY20-21, compared with INR3.82bn in the year-ago period. Revenue also declined 24 per cent to INR24.8bn from INR33.02bn.

However, expenses also decreased 25 per cent to INR21.63bn due to lower raw materials costs.

The company’s EBITDA dropped 22 per cent YoY to INR7bn, while EBITDA/t finished at INR14.22bn.