Shree Cement reports 108% rise in net profit

Kolkata, Oct 10 (UNI) Shree Cement today reported 108 per cent rise in net profit to Rs 77.80 crore against Rs 37.36 crore recorded in the corresponding quarter of previous year.

Net sales doubled to Rs. 315.96 crore against Rs. 155.38 crore.

Operating profit increased from Rs.52.94 crore to Rs. 146.99 crore with operating margin going up from 34.1 per cent in Q2 of last year to 46.5 per cent in the current quarter.

The operating margin improved by 111 basis points during current quarter compared to quarter ended June 2006, the company said in a statement here.

The capacity addition programme undertaken by the Company to raise its production capacity from 4.5 MTPA to 9.1 MTPA, is running as per schedule.

Company expects to commission one unit of 1.5 MTPA by end of current financial year taking its capacity to 6 MTPA, the statement said.

UNI TJP PL/src1601