Mumbai: Cement manufacturer Shree Cement Ltd on Friday posted a 3% increase in its net profit at ₹309.95 crore in the quarter ended December 31, 2019 helped by drop in fuel and other input costs. In a filing to the BSE, the Kolkata-headquartered firm’s net revenue stood at ₹2,848.34 crore, up 2% from the year-ago period. The company said cement sales went up 6% to 5.98 million ton from 5.64 million ton recorded in the corresponding quarter of the previous year. During December quarter, Shree Cement has raised ₹2,400 crore by offering shares through Qualified Institutions Placement (QIP). Shares of Shree Cement Ltd closed at ₹24,412.75, down 0.90% while Sensex fell by 0.49% at 41,257.74 points from the previous close.

Source: Mint February 14, 2020 13:18 UTC