Shree Cement's first quarter net profit fell 36.5 percent year-on-year to Rs 279.5 crore, dragged by dismal operational performance.
Profit in the corresponding period last fiscal was at Rs 440 crore.
The cement maker said revenue during the quarter increased 19.1 percent to Rs 3,070 crore compared to Rs 2,576.6 crore in same period last year.
Net sales volume grew by 19 percent to 6.99 million tonne against 5.89 million tonne in year-ago.
EBITDA (earnings before interest, tax, depreciation and amortisation) dropped 19.5 percent year-on-year to Rs 574 crore and margin contracted by 897 basis points to 18.7 percent in Q1FY19, dented by higher fuel cost, freight cost and other expenses.
Power & fuel during the quarter increased sharply by 55 percent to Rs 708.3 crore, and freight & forwarding expenses jumped 35 percent to Rs 851.94 crore YoY.
Other expenses also surged 29 percent to Rs 522.88 crore year-on-year, which included forex loss on unhedged loans amounting to Rs 75 crore.
At 14:30 hours IST, the stock price was trading at Rs 17,162.65, up 0.19 percent on the BSE.
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