In the financial year 2012-13, Shree Cements reported a better than expected second quarter performance with a 3.67 times rise in net profit to Rs 217 crore. The company’s net sales grew by 19.4 per cent to Rs 1,428 crore from Rs 1,195.8 crore during the same period.
HM Bangur, MD of Shree Cement said traditionally, the cement sector performs better in the second half of the financial year as compared to the first half. The company’s power segment has posted good results in the current quarter despite the fact that the plant is mainly dependent on imported coal and pet coke. Lower prices of imported coal have largely benefitted its power operations, he added.
Bangur expects the second half of FY13 to be better than the first half in terms of the company’s overall performance. Shree cements is also confident of running its cement business at 100 percent capacity.