On Thursday, Shree Cement Ltd reported a decline of 55.8 per cent in its consolidated net profit to Rs 278.86 crore in Q1FY23.

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According to the company, a net profit of Rs 630.89 crore in the April-June period of last year. However, its revenue from operations increased 21.45 per cent to Rs 4,414.85 crore during the quarter under review against Rs 3,634.83 crore in the corresponding period of the preceding fiscal. Also, total expenses raised 36.71 per cent in the first quarter of FY23 from Rs 2,939.88 crore to Rs 4,019 crore.

Today, Shree Cement Ltd shares were trading at Rs 20,150 on BSE, falling 4.14 per cent from the previous close.