New Delhi, Oct. 23 -- Higher fuel and power costs came to haunt Shree Cement Ltd on Friday, as India's third-largest cement maker reported a decline in profit despite clocking strong volume growth.

The Kolkata-based cement maker reported a 15% decline in consolidated net profit attributable to shareholders to Rs.261.82 crore from Rs.308.51 crore a year earlier, missing Bloomberg's consensus estimate of Rs.278.95 crore.

Revenue from operations, however, jumped 24% to Rs.5,896.51 crore from Rs.4,761.07 crore, supported by higher sales volumes and a stronger contribution from premium cement products.

Power and fuel expenses surged 56% year-on-year to Rs.1,843.25 crore, while raw material costs jumped 52% to 725.43 crore. Freight and forwa...