Shree Cement on Monday reported a 18.3 % rise in its standalone net profit at Rs 291.5 crore for the quarter ended September 30, 2016, as against Rs 246.3 crore net clocked in the year-ago period.
Total standalone income of the company was up 17.6 % at Rs 2254 crore in the July-September quarter this fiscal compared to Rs 1915.3 crore in the corresponding period previous fiscal. Total expenses in the quarter under review was higher at Rs 2029.9 crore against Rs 1743.8 crore in the previous corresponding period.
Apart from approving the unaudited July-September results, the board of directors also cleared the company’s proposal to enhance its cement producing capacity for a total investment of Rs 652 crore. The exercise, which will be funded by internal accruals, involves setting up of new two plants and revising the capacity expansion plans.