Shree Cement Ltd (SCL), promoted by the Bangur family, reported a 51.31% decline in consolidated net profit to ₹278.45 crore for Q1 FY24, compared to ₹571.94 crore a year ago. Revenue from operations increased by 1.73% to ₹5,123.96 crore, while total expenses rose by 10.05% to ₹4,957.24 crore. Total income grew by 1.12% to ₹5,263.09 crore. Despite the profit drop, SCL’s shares rose 1.82% to ₹519.60 on the BSE. The results reflect higher costs impacting profitability despite steady revenue growth.
