Shree Cement Ltd has reported a profit after tax of Rs 111 crore on a turnover of Rs 614 crore for the quarter to June 30, 2008, against a PAT of Rs 117 crore on turnover of Rs 441 crore in the same quarter of the previous year.
The Beawar, Rajasthan-based company said spiralling energy prices pushed up its fuel and power bill.
At the company’s 29th annual general meeting on Friday, shareholders approved a dividend of Rs 8 per share, against Rs 6 paid last year.
For the full year to March 31, 2008, the company had reported a PAT of Rs 260 crore on a turnover of Rs 2,066 crore.
In his address to shareholders, chairman BG Bangur said the company has completed all its expansion projects on time and withing budget. It has decided to set up another clinker production unit in Ras and a split-grinding unit in Suratgarh.
During the quarter, itbagged the prestigious Golden Peacock award for combating climate change. It is in recognition of its initiatives to reduce carbon emissions.