Despite revenues rising by double-digits, the consolidated profit of Shree Cement for the April-June quarter halved from the year-ago value. This is primarily on account of high power and fuel costs.

As per the company reports, consolidated top line revenue was registered at Rs 4,415 crore, 22% more than the year-ago value. However, consolidated profit has declined to Rs 280 crore, which means a 56% reduction.

Further, EBITDA (Earnings before interest, tax, depreciation, and amortisation) declined by 22% to Rs 801 crore. EBITDA margin remained at 18.1%, narrowed by 10%.

The company’s stock dropped following the earnings announcement. It ended the day 3.1% lower at Rs 20,368.05 on the BSE. However, the benchmark Sensex closed 1.87% higher.