Shree Cements Q1 beats estimates, net up 5.9x to Rs 228 cr

Shree Cements, one of the largest cement producers in north India, have reported higher than expectations numbers in the quarter ended September 2012. Net profit rose by 5.92 times year-on-year to Rs 228 crore from Rs 38.5 crore in a year ago period.

Net sales increased 54.8% to Rs 1,323 crore in the first quarter of financial year 2012-13 from Rs 854.64 crore in the corresponding quarter of previous fiscal.

Analysts on an average had expected net profit at Rs 190 crore and net sales of Rs 1,275 crore in the three months ended September 2012.

Depreciation during the quarter fell by 41% year-on-year to Rs 94.2 crore.

At 14:46 hours IST, the share was down 1.11 percent to Rs 4,035.

Source: www.moneycontrol.com

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