Shree Cement posts 1Q results

India-based Shree Cement reported its 1QFY24-25 results on 6 August 2024, with the company’s revenue from operations declining by 4.7 per cent QoQ, from INR50.7bn (US$603.9m) to INR48.4bn. The company's revenue from operations saw marginal growth of 1.7 per cent, from INR50.3bn in the first quarter of 2023 to INR51.5bn in the same period of 2024. 

The company's profit before tax for the quarter was INR3bn, down 62.1 per cent from INR8bn in the previous quarter. 1Q profit before tax fell 56.3 per cent YoY, from INR7bn in the same period of 2023. 

Shree Cement's selling, general and administrative costs rose by six per cent QoQ and 6.8 per cent YoY. 

Earnings per share for the first quarter of 2024 were INR77.22, down 51.3 per cent from INR187 in the same period in 2023.

Currently, Shree Cement has a market cap of INR941.756bn with a 52-week high and low of INR30,737.75 and INR23,451, respectively.