India: Shree Cement has reported a fall in profit for its cement business of 24% to US$34m in the last three months of 2012 from US$45m in the same period in 2011. Total income for the company's cement business fell by 6% to US$207m from US$221m.
Since Shree Cement's previous financial year ending on 30 June 2012 lasted 15 months, figures for the six month period to 31 December 2012 were derived by aggregating the quarters ending 30 September 2011 and 31 December 2012. For the half year to 31 December 2012, Shree Cement reported a gain in income for its cement business of 19% to US$428m in 2012 from US$359m. Profits for the cement business for the half year rose by 24% to US$77m from US$62m.
Overall the Indian cement producer's financial results were bolstered by the company's power business. It reported a rise in net profit of 267% to US$40.5m in the last three months of 2012 from US$11m in the same period in 2011. Its total income increase by 20% to US$271m from US$226m.